National Bank of Canada FI grew its stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,036 shares of the company's stock after purchasing an additional 1,206 shares during the quarter. National Bank of Canada FI's holdings in Lithium Americas were worth $1,127,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. MCF Advisors LLC acquired a new position in shares of Lithium Americas during the 1st quarter worth approximately $44,000. Fiduciary Trust Co. acquired a new position in shares of Lithium Americas during the 4th quarter worth approximately $255,000. Miracle Mile Advisors LLC acquired a new position in shares of Lithium Americas during the 1st quarter worth approximately $221,000. Mercer Global Advisors Inc. ADV increased its holdings in shares of Lithium Americas by 65.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 28,627 shares of the company's stock worth $834,000 after acquiring an additional 11,327 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Lithium Americas during the 4th quarter worth approximately $11,503,000. 17.87% of the stock is owned by institutional investors and hedge funds.
Get Lithium Americas alerts:Lithium Americas Price Performance
Shares of LAC opened at $27.37 on Monday. Lithium Americas Corp. has a 12-month low of $13.87 and a 12-month high of $41.56. The business has a 50-day simple moving average of $22.52 and a two-hundred day simple moving average of $25.96. The company has a quick ratio of 51.19, a current ratio of 44.14 and a debt-to-equity ratio of 0.26. The stock has a market cap of $3.68 billion, a PE ratio of -50.68 and a beta of 1.57.
Lithium Americas (NYSE:LAC – Get Rating) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.05. Analysts anticipate that Lithium Americas Corp. will post -0.4 earnings per share for the current fiscal year.Analysts Set New Price Targets
A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Lithium Americas from $36.00 to $33.00 in a report on Wednesday, July 6th. Canaccord Genuity Group cut their target price on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating for the company in a research report on Friday, July 22nd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Lithium Americas presently has an average rating of "Moderate Buy" and a consensus price target of $41.18.
About Lithium Americas
(Get Rating)
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.
See Also
- Get a free copy of the StockNews.com research report on Lithium Americas (LAC)
- Electric Vehicles Can Drive Alcoa Stock Higher
- Can Airbnb Still Thrive in a Recession?
- What to Expect from the Markets in a Recession
- ConocoPhillips Shares Advance On Strong Q2 Revenue
- MarketBeat: Week in Review 8/1 – 8/5
Receive News & Ratings for Lithium Americas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithium Americas and related companies with MarketBeat.com's FREE daily email newsletter.