Raymond James Financial Inc. Purchases New Shares in Lithium Americas Corp. (NYSE:LAC)

Raymond James Financial Inc. acquired a new position in Lithium Americas Corp. (NYSE:LAC) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 43,800 shares of the company’s stock, valued at approximately $130,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in shares of Lithium Americas by 21.6% in the 3rd quarter. Geode Capital Management LLC now owns 103,275 shares of the company’s stock worth $279,000 after buying an additional 18,321 shares during the period. Barclays PLC lifted its position in Lithium Americas by 50.7% during the 3rd quarter. Barclays PLC now owns 115,208 shares of the company’s stock valued at $311,000 after acquiring an additional 38,781 shares during the period. HB Wealth Management LLC bought a new stake in Lithium Americas during the fourth quarter worth about $55,000. Independent Wealth Network Inc. grew its holdings in Lithium Americas by 133.4% in the fourth quarter. Independent Wealth Network Inc. now owns 216,973 shares of the company’s stock worth $644,000 after purchasing an additional 123,993 shares during the period. Finally, Teamwork Financial Advisors LLC grew its holdings in Lithium Americas by 79.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company’s stock worth $2,122,000 after purchasing an additional 315,621 shares during the period.

Analyst Ratings Changes

Several research firms have recently issued reports on LAC. National Bankshares reiterated an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Evercore ISI assumed coverage on Lithium Americas in a research note on Thursday, April 17th. They set an “outperform” rating and a $4.50 price objective for the company. Scotiabank dropped their target price on Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a report on Monday, March 31st. Finally, Cormark upgraded Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $4.75.

Lithium Americas Trading Down 3.2%

Lithium Americas stock opened at $3.05 on Wednesday. Lithium Americas Corp. has a 12 month low of $2.02 and a 12 month high of $5.20. The stock has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $3.18. The firm has a market cap of $666.99 million, a price-to-earnings ratio of -25.42 and a beta of 0.89.

Lithium Americas (NYSE:LAC) last issued its earnings results on Friday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.09). On average, equities research analysts forecast that Lithium Americas Corp. will post -0.12 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.