Avantax Advisory Services Inc. Sells 1,629 Shares of Lithium Americas Corp. (NYSE:LAC)

Avantax Advisory Services Inc. trimmed its position in Lithium Americas Corp. (NYSE:LACGet Rating) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,628 shares of the company’s stock after selling 1,629 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Lithium Americas were worth $725,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tradewinds Capital Management LLC increased its holdings in shares of Lithium Americas by 270.6% in the second quarter. Tradewinds Capital Management LLC now owns 1,260 shares of the company’s stock worth $25,000 after purchasing an additional 920 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Lithium Americas by 725.0% in the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of Lithium Americas by 54.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,648 shares of the company’s stock worth $33,000 after purchasing an additional 580 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Lithium Americas in the first quarter worth about $42,000. Finally, Captrust Financial Advisors increased its holdings in shares of Lithium Americas by 224.9% in the first quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock worth $47,000 after purchasing an additional 839 shares during the last quarter. 21.88% of the stock is owned by institutional investors.

Lithium Americas Stock Up 4.2 %

Shares of NYSE:LAC opened at $20.79 on Monday. Lithium Americas Corp. has a 1 year low of $17.58 and a 1 year high of $40.39. The business has a 50 day simple moving average of $22.23 and a two-hundred day simple moving average of $24.94. The firm has a market capitalization of $2.81 billion, a PE ratio of -29.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.30, a current ratio of 52.06 and a quick ratio of 52.06.

Lithium Americas (NYSE:LACGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.05. On average, equities analysts predict that Lithium Americas Corp. will post -0.95 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Evercore ISI assumed coverage on Lithium Americas in a research report on Wednesday, November 16th. They issued an “outperform” rating and a $35.00 price target for the company. National Bank Financial dropped their price target on Lithium Americas from $42.50 to $38.50 in a research report on Monday, January 16th. Deutsche Bank Aktiengesellschaft dropped their price target on Lithium Americas from $34.00 to $30.00 in a research report on Tuesday, January 10th. Canaccord Genuity Group dropped their price target on Lithium Americas from C$50.50 to C$50.00 and set a “buy” rating for the company in a research report on Friday, October 28th. Finally, B. Riley reiterated a “buy” rating on shares of Lithium Americas in a research report on Friday, November 4th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $38.31.

About Lithium Americas

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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.

Further Reading

Institutional Ownership by Quarter for Lithium Americas (NYSE:LAC)

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