Lithium Americas Corp. $LAC Shares Sold by Invesco Ltd.

Invesco Ltd. reduced its position in Lithium Americas Corp. (NYSE:LAC) by 20.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,207,309 shares of the company’s stock after selling 319,598 shares during the quarter. Invesco Ltd. owned about 0.55% of Lithium Americas worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in LAC. Cacti Asset Management LLC acquired a new stake in Lithium Americas during the first quarter worth about $27,000. Members Wealth LLC purchased a new position in Lithium Americas in the first quarter valued at approximately $27,000. Ping Capital Management Inc. acquired a new position in Lithium Americas during the first quarter valued at approximately $27,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Lithium Americas during the first quarter valued at approximately $27,000. Finally, Mariner LLC purchased a new stake in Lithium Americas during the fourth quarter worth approximately $31,000.

Lithium Americas Stock Performance

Lithium Americas stock opened at $3.00 on Friday. Lithium Americas Corp. has a 52 week low of $2.11 and a 52 week high of $5.20. The company has a current ratio of 9.88, a quick ratio of 9.88 and a debt-to-equity ratio of 0.33. The stock has a market cap of $723.77 million, a P/E ratio of -13.02 and a beta of 0.68. The stock has a 50 day moving average of $2.83 and a 200-day moving average of $2.82.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). On average, analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LAC. Wedbush reissued a “neutral” rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Friday, May 16th. National Bankshares downgraded Lithium Americas from an “outperform” rating to a “sector perform” rating in a report on Friday, May 16th. Cormark raised Lithium Americas to a “moderate buy” rating in a research report on Wednesday, August 20th. Finally, National Bank Financial downgraded Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Lithium Americas currently has a consensus rating of “Hold” and an average price target of $4.15.

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.