Mercer Global Advisors Inc. ADV Increases Holdings in Lithium Americas Corp. (NYSE:LAC)

Mercer Global Advisors Inc. ADV increased its stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 53.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,734 shares of the company’s stock after buying an additional 14,205 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Lithium Americas were worth $772,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after buying an additional 725 shares in the last quarter. Castle Wealth Management LLC lifted its position in Lithium Americas by 100.0% during the third quarter. Castle Wealth Management LLC now owns 1,000 shares of the company’s stock worth $26,000 after buying an additional 500 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Lithium Americas during the first quarter worth approximately $42,000. Captrust Financial Advisors lifted its position in Lithium Americas by 224.9% during the first quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock worth $47,000 after buying an additional 839 shares in the last quarter. Finally, CWM LLC lifted its position in Lithium Americas by 47.9% during the fourth quarter. CWM LLC now owns 1,544 shares of the company’s stock worth $29,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 21.88% of the company’s stock.

Lithium Americas Trading Down 2.9 %

Shares of NYSE LAC opened at $22.27 on Friday. Lithium Americas Corp. has a twelve month low of $17.58 and a twelve month high of $33.10. The company has a current ratio of 18.13, a quick ratio of 18.13 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $20.48 and a 200-day simple moving average of $22.21. The stock has a market capitalization of $3.55 billion, a PE ratio of -57.10 and a beta of 1.46.

Lithium Americas (NYSE:LAC – Get Rating) last issued its quarterly earnings data on Friday, March 31st. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.06. On average, equities analysts forecast that Lithium Americas Corp. will post 0.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LAC. National Bankshares raised their target price on Lithium Americas from $38.50 to $42.50 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft cut their target price on Lithium Americas from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday, April 20th. Pi Financial reissued a “buy” rating on shares of Lithium Americas in a research note on Wednesday, March 8th. B. Riley raised their target price on Lithium Americas from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Finally, Piper Sandler cut their target price on Lithium Americas from $36.00 to $33.00 in a research note on Thursday, April 6th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $38.13.

Lithium Americas Profile

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Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.