Cordatus Wealth Management LLC boosted its position in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 202.9% in the first quarter, Holdings Channel reports. The fund owned 52,376 shares of the company's stock after purchasing an additional 35,083 shares during the quarter. Cordatus Wealth Management LLC's holdings in Lithium Americas were worth $2,016,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in Lithium Americas by 422.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,072,700 shares of the company's stock valued at $60,356,000 after purchasing an additional 1,676,300 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Lithium Americas by 54.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,828,956 shares of the company's stock valued at $53,313,000 after purchasing an additional 643,319 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of Lithium Americas in the fourth quarter worth about $11,503,000. Commonwealth Equity Services LLC boosted its stake in shares of Lithium Americas by 2,086.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 397,205 shares of the company's stock worth $11,566,000 after acquiring an additional 379,041 shares during the period. Finally, Panview Asian Equity Master Fund bought a new position in shares of Lithium Americas in the first quarter worth about $9,455,000. Hedge funds and other institutional investors own 17.87% of the company's stock.
Get Lithium Americas alerts:Lithium Americas Stock Up 2.4 %
Lithium Americas stock traded up $0.59 during midday trading on Tuesday, reaching $25.61. 99,794 shares of the stock traded hands, compared to its average volume of 1,960,332. The stock's fifty day moving average is $22.51 and its 200-day moving average is $26.02. Lithium Americas Corp. has a 12 month low of $13.37 and a 12 month high of $41.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 51.19 and a quick ratio of 51.19.
Lithium Americas (NYSE:LAC – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.05. As a group, analysts predict that Lithium Americas Corp. will post -0.11 EPS for the current fiscal year.Analyst Ratings Changes
A number of equities analysts have recently weighed in on LAC shares. Canaccord Genuity Group dropped their price objective on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating for the company in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Lithium Americas from $36.00 to $33.00 in a research note on Wednesday, July 6th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.18.
Lithium Americas Profile
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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.
Further Reading
- Get a free copy of the StockNews.com research report on Lithium Americas (LAC)
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