Goldman Sachs Group Inc. Purchases 324,518 Shares of Lithium Americas Corp. $LAC

Goldman Sachs Group Inc. grew its stake in shares of Lithium Americas Corp. (NYSE:LAC) by 44.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046,556 shares of the company’s stock after acquiring an additional 324,518 shares during the period. Goldman Sachs Group Inc. owned 0.48% of Lithium Americas worth $2,836,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its stake in shares of Lithium Americas by 4.4% during the fourth quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock valued at $309,000 after buying an additional 4,379 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Lithium Americas by 44.1% during the 4th quarter. Toronto Dominion Bank now owns 27,679 shares of the company’s stock valued at $82,000 after acquiring an additional 8,466 shares during the period. Mackenzie Financial Corp boosted its holdings in Lithium Americas by 3.9% in the 4th quarter. Mackenzie Financial Corp now owns 87,701 shares of the company’s stock worth $262,000 after buying an additional 3,310 shares during the period. Cacti Asset Management LLC purchased a new stake in Lithium Americas in the 1st quarter worth $27,000. Finally, Teamwork Financial Advisors LLC raised its position in shares of Lithium Americas by 20.1% during the 1st quarter. Teamwork Financial Advisors LLC now owns 857,754 shares of the company’s stock valued at $2,325,000 after buying an additional 143,373 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.15.

Lithium Americas Price Performance

LAC stock opened at $3.26 on Friday. The firm has a market capitalization of $787.81 million, a PE ratio of -14.17 and a beta of 0.70. Lithium Americas Corp. has a 1 year low of $2.28 and a 1 year high of $5.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 9.88 and a quick ratio of 9.88. The business has a 50 day simple moving average of $2.92 and a 200-day simple moving average of $2.84.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Equities research analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

About Lithium Americas

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.