Avantax Advisory Services Inc. Lowers Holdings in Lithium Americas Corp. (NYSE:LAC)

Avantax Advisory Services Inc. trimmed its holdings in Lithium Americas Corp. (NYSE:LACGet Rating) by 5.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 27,628 shares of the company’s stock after selling 1,629 shares during the period. Avantax Advisory Services Inc.’s holdings in Lithium Americas were worth $725,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can purchased a new stake in Lithium Americas in the third quarter valued at $143,000. Kingfisher Capital LLC raised its holdings in shares of Lithium Americas by 2.6% during the third quarter. Kingfisher Capital LLC now owns 129,974 shares of the company’s stock valued at $3,409,000 after acquiring an additional 3,336 shares during the last quarter. Summit Place Financial Advisors LLC raised its holdings in shares of Lithium Americas by 4.1% during the third quarter. Summit Place Financial Advisors LLC now owns 37,775 shares of the company’s stock valued at $991,000 after acquiring an additional 1,500 shares during the last quarter. United Capital Management of KS Inc. acquired a new position in shares of Lithium Americas during the third quarter valued at approximately $236,000. Finally, James Investment Research Inc. acquired a new position in shares of Lithium Americas during the third quarter valued at approximately $50,000. 21.88% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas Price Performance

LAC stock opened at $20.79 on Monday. The business has a fifty day moving average of $22.23 and a two-hundred day moving average of $24.94. The company has a quick ratio of 52.06, a current ratio of 52.06 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -29.70 and a beta of 1.45. Lithium Americas Corp. has a 52-week low of $17.58 and a 52-week high of $40.39.

Lithium Americas (NYSE:LACGet Rating) last posted its earnings results on Thursday, October 27th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.05. As a group, research analysts anticipate that Lithium Americas Corp. will post -0.95 earnings per share for the current year.

Analyst Ratings Changes

LAC has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their target price on Lithium Americas from C$50.50 to C$50.00 and set a “buy” rating for the company in a report on Friday, October 28th. B. Riley reissued a “buy” rating on shares of Lithium Americas in a report on Friday, November 4th. Evercore ISI assumed coverage on Lithium Americas in a report on Wednesday, November 16th. They issued an “outperform” rating and a $35.00 price target for the company. Deutsche Bank Aktiengesellschaft cut their price target on Lithium Americas from $34.00 to $30.00 in a report on Tuesday, January 10th. Finally, Piper Sandler cut their price target on Lithium Americas from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Thursday, December 15th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Lithium Americas currently has a consensus rating of “Buy” and a consensus price target of $38.31.

Lithium Americas Company 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

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Institutional Ownership by Quarter for Lithium Americas (NYSE:LAC)

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