Lithium Americas Corp. (NYSE:LAC) Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its position in shares of Lithium Americas Corp. (NYSE:LAC) by 29.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 336,632 shares of the company’s stock after selling 138,639 shares during the quarter. LPL Financial LLC owned approximately 0.15% of Lithium Americas worth $1,000,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sage Investment Counsel LLC purchased a new stake in Lithium Americas in the 4th quarter valued at approximately $30,000. Allworth Financial LP boosted its holdings in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock valued at $31,000 after acquiring an additional 4,893 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in Lithium Americas during the fourth quarter valued at about $37,000. Perigon Wealth Management LLC increased its stake in Lithium Americas by 46.2% during the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Quotient Wealth Partners LLC purchased a new stake in Lithium Americas during the fourth quarter worth approximately $49,000.

Lithium Americas Trading Down 0.6 %

LAC stock opened at $2.69 on Monday. The firm has a market cap of $592.54 million, a P/E ratio of -22.38 and a beta of 1.01. The stock’s 50 day simple moving average is $2.82 and its 200 day simple moving average is $3.20. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $5.20.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Friday, March 28th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). On average, research analysts forecast that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

LAC has been the subject of several analyst reports. Piper Sandler decreased their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Scotiabank lowered their price target on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating for the company in a report on Monday, March 31st. Evercore ISI started coverage on Lithium Americas in a research report on Thursday. They issued an “outperform” rating and a $4.50 target price on the stock. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, National Bankshares reaffirmed an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Lithium Americas presently has an average rating of “Moderate Buy” and an average target price of $4.75.

Lithium Americas Company 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.