Mackenzie Financial Corp Increases Stake in Lithium Americas Corp. (NYSE:LAC)

Mackenzie Financial Corp raised its position in Lithium Americas Corp. (NYSE:LAC) by 28.6% during the fourth quarter, HoldingsChannel reports. The firm owned 257,589 shares of the company’s stock after buying an additional 57,232 shares during the quarter. Mackenzie Financial Corp’s holdings in Lithium Americas were worth $1,653,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LAC. CWM LLC increased its position in shares of Lithium Americas by 140.6% in the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $40,000 after purchasing an additional 1,360 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Lithium Americas by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 336,658 shares of the company’s stock valued at $5,727,000 after purchasing an additional 3,909 shares during the last quarter. Aquila Investment Management LLC increased its position in shares of Lithium Americas by 11.1% in the 3rd quarter. Aquila Investment Management LLC now owns 120,000 shares of the company’s stock valued at $2,041,000 after purchasing an additional 12,000 shares during the last quarter. Balboa Wealth Partners increased its position in shares of Lithium Americas by 6.6% in the 3rd quarter. Balboa Wealth Partners now owns 44,673 shares of the company’s stock valued at $760,000 after purchasing an additional 2,785 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Lithium Americas by 28.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 203,969 shares of the company’s stock valued at $3,470,000 after purchasing an additional 45,155 shares during the last quarter.

Analysts Set New Price Targets

A number of brokerages have commented on LAC. Evercore ISI dropped their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. JPMorgan Chase & Co. upped their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Scotiabank cut shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $15.00 to $7.00 in a report on Monday, March 18th. Finally, HSBC lowered their target price on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a report on Friday, April 19th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of “Moderate Buy” and an average price target of $12.18.

Lithium Americas Trading Down 1.5 %

Shares of NYSE:LAC opened at $4.68 on Wednesday. The firm has a fifty day moving average price of $5.79 and a 200 day moving average price of $6.18. Lithium Americas Corp. has a 1-year low of $3.81 and a 1-year high of $12.38.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.08). On average, research analysts forecast that Lithium Americas Corp. will post -0.15 EPS for the current fiscal year.

Lithium Americas Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.