National Asset Management Inc. purchased a new stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,800 shares of the company's stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Lithium Americas by 422.9% in the 4th quarter. Renaissance Technologies LLC now owns 2,072,700 shares of the company's stock valued at $60,356,000 after buying an additional 1,676,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Lithium Americas by 54.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,828,956 shares of the company's stock valued at $53,313,000 after buying an additional 643,319 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Lithium Americas in the 4th quarter valued at $11,503,000. Commonwealth Equity Services LLC boosted its position in Lithium Americas by 2,086.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 397,205 shares of the company's stock valued at $11,566,000 after buying an additional 379,041 shares during the last quarter. Finally, Panview Asian Equity Master Fund bought a new position in Lithium Americas in the 1st quarter valued at $9,455,000. 17.87% of the stock is owned by institutional investors and hedge funds.

Lithium Americas Stock Performance

LAC opened at $25.41 on Monday. The business's 50-day moving average price is $22.52 and its two-hundred day moving average price is $26.06. Lithium Americas Corp. has a 1 year low of $13.37 and a 1 year high of $41.56. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of -43.81 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a current ratio of 51.19 and a quick ratio of 51.19.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LAC. Deutsche Bank Aktiengesellschaft reduced their price target on Lithium Americas from $36.00 to $33.00 in a research report on Wednesday, July 6th. Canaccord Genuity Group dropped 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 note on Friday, July 22nd. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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