Trustees of Princeton University acquired a new position in $Lithium Americas(LAC.US)$ in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,397,398 shares of the company's stock, valued at approximately $92,276,000. Lithium Americas accounts for approximately 60.0% of Trustees of Princeton University's portfolio, making the stock its largest holding. Trustees of Princeton University owned about 1.78% of Lithium Americas at the end of the most recent reporting period.
Several other large investors also recently modified their holdings 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 stake in Lithium Americas during the fourth quarter valued at about $11,503,000. Panview Asian Equity Master Fund bought a new stake in Lithium Americas during the first quarter valued at about $9,455,000. Finally, American Century Companies Inc. grew its holdings in Lithium Americas by 204.4% during the fourth quarter. American Century Companies Inc. now owns 336,100 shares of the company's stock valued at $9,783,000 after purchasing an additional 225,700 shares during the period. Institutional investors own 17.87% of the company's stock.
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Lithium Americas Price Performance
Shares of NYSE:LAC traded down $0.18 during mid-day trading on Tuesday, reaching $28.12. The stock had a trading volume of 94,332 shares, compared to its average volume of 2,038,624. The company has a current ratio of 44.14, a quick ratio of 44.14 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.78 billion, a P/E ratio of -51.61 and a beta of 1.57. Lithium Americas Corp. has a 1 year low of $14.17 and a 1 year high of $41.56. The business's 50 day moving average price is $22.52 and its 200 day moving average price is $25.98.
Lithium Americas (NYSE:LAC – Get Rating) last posted its earnings results on Thursday, July 28th. The company reported ($0.12) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.05. Research analysts expect that Lithium Americas Corp. will post -0.4 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
LAC has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on Lithium Americas from $36.00 to $33.00 in a report on Wednesday, July 6th. Canaccord Genuity Group lowered their price objective on Lithium Americas from C$50.00 to C$49.00 and set a "buy" rating on the stock in a research report on Friday, July 22nd. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.18.
About Lithium Americas
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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
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