Private Advisor Group LLC Takes Position in Lithium Americas Corp. (NYSE:LAC)

Private Advisor Group LLC purchased a new stake in Lithium Americas Corp. (NYSE:LAC) in the first quarter, according to its most recent filing with the SEC. The fund purchased 21,058 shares of the company’s stock, valued at approximately $458,000.

Other institutional investors have also made changes to their positions in the company. Swiss National Bank increased its holdings in shares of Lithium Americas by 1.6% in the 4th quarter. Swiss National Bank now owns 261,000 shares of the company’s stock valued at $4,947,000 after acquiring an additional 4,000 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Lithium Americas by 3.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 27,018 shares of the company’s stock valued at $588,000 after acquiring an additional 958 shares during the last quarter. Armstrong Advisory Group Inc. increased its holdings in shares of Lithium Americas by 156.5% in the 1st quarter. Armstrong Advisory Group Inc. now owns 1,475 shares of the company’s stock valued at $32,000 after acquiring an additional 900 shares during the last quarter. Decade Renewable Partners LP bought a new stake in shares of Lithium Americas in the 4th quarter valued at approximately $9,193,000. Finally, CenterBook Partners LP increased its holdings in shares of Lithium Americas by 122.7% in the 4th quarter. CenterBook Partners LP now owns 205,102 shares of the company’s stock valued at $3,887,000 after acquiring an additional 113,004 shares during the last quarter. 27.28% of the stock is currently owned by institutional investors.

Lithium Americas Trading Up 1.3 %

Shares of Lithium Americas stock opened at $18.56 on Friday. The company has a quick ratio of 10.13, a current ratio of 10.13 and a debt-to-equity ratio of 0.16. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of -168.71 and a beta of 1.47. The business has a fifty day simple moving average of $19.18 and a 200-day simple moving average of $20.50. Lithium Americas Corp. has a fifty-two week low of $16.07 and a fifty-two week high of $32.50.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.29. On average, equities analysts forecast that Lithium Americas Corp. will post 0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

LAC has been the subject of a number of analyst reports. Piper Sandler reduced their price objective on Lithium Americas from $33.00 to $29.00 and set an “overweight” rating for the company in a research report on Friday. HSBC reduced their price objective on Lithium Americas from $36.00 to $30.00 in a research report on Friday, June 23rd. Stifel Nicolaus set a $37.00 price objective on Lithium Americas and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Lithium Americas from $26.00 to $25.00 in a research report on Thursday, August 10th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Lithium Americas presently has an average rating of “Buy” and a consensus target price of $36.70.

Lithium Americas Profile

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.