PFG Investments LLC Sells 17,802 Shares of Lithium Americas Corp. $LAC

PFG Investments LLC decreased its stake in Lithium Americas Corp. (NYSE:LAC) by 51.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,814 shares of the company’s stock after selling 17,802 shares during the period. PFG Investments LLC’s holdings in Lithium Americas were worth $45,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after purchasing an additional 324,518 shares during the last quarter. Teamwork Financial Advisors LLC grew its stake in shares of Lithium Americas by 18.1% during the 2nd quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock worth $2,714,000 after acquiring an additional 155,068 shares during the period. HITE Hedge Asset Management LLC increased its holdings in Lithium Americas by 0.6% in the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company’s stock worth $1,994,000 after acquiring an additional 4,445 shares during the last quarter. Decade Renewable Partners LP raised its stake in Lithium Americas by 51.7% in the 1st quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock valued at $1,843,000 after acquiring an additional 231,900 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Lithium Americas by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 328,582 shares of the company’s stock valued at $874,000 after purchasing an additional 15,898 shares during the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LAC shares. TD Cowen reiterated a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a research note on Thursday, September 25th. Cormark lowered shares of Lithium Americas from a “moderate buy” rating to a “hold” rating in a research note on Thursday, October 2nd. Cowen downgraded Lithium Americas from a “buy” rating to a “hold” rating in a research report on Wednesday, September 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Lithium Americas in a research report on Saturday, September 27th. Finally, BMO Capital Markets boosted their price objective on Lithium Americas from $3.50 to $5.00 and gave the company a “market perform” rating in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Stock Down 2.1%

Shares of NYSE LAC opened at $8.28 on Wednesday. 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 business has a 50-day moving average of $3.73 and a 200-day moving average of $3.12. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of -35.98 and a beta of 1.43. Lithium Americas Corp. has a 12 month low of $2.31 and a 12 month high of $9.48.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Sell-side analysts expect that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the sale, the vice president owned 40,005 shares in the company, valued at $379,247.40. This trade represents a 89.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.11% of the stock is currently owned by corporate insiders.

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.