Kestra Advisory Services LLC lowered its position in Lithium Americas Corp. (NYSE:LAC – Get Rating) by 1.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 40,790 shares of the company’s stock after selling 497 shares during the period. Kestra Advisory Services LLC’s holdings in Lithium Americas were worth $1,070,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LAC. Private Advisor Group LLC lifted its position in shares of Lithium Americas by 200.7% during the 2nd quarter. Private Advisor Group LLC now owns 16,246 shares of the company’s stock valued at $327,000 after acquiring an additional 10,844 shares during the period. Summit Place Financial Advisors LLC lifted its position in shares of Lithium Americas by 4.1% during the 3rd 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 period. Alpha Paradigm Partners LLC acquired a new position in shares of Lithium Americas during the 2nd quarter valued at $352,000. InterOcean Capital Group LLC acquired a new position in shares of Lithium Americas during the 2nd quarter valued at $208,000. Finally, Formidable Asset Management LLC increased its stake in Lithium Americas by 1.3% during the 2nd quarter. Formidable Asset Management LLC now owns 468,976 shares of the company’s stock valued at $10,606,000 after purchasing an additional 6,219 shares in the last quarter. Institutional investors and hedge funds own 21.88% of the company’s stock.
Lithium Americas Price Performance
Shares of NYSE:LAC opened at $21.92 on Wednesday. The company’s 50-day moving average is $22.03 and its 200 day moving average is $24.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 52.06 and a current ratio of 52.06. The company has a market capitalization of $2.96 billion, a P/E ratio of -31.31 and a beta of 1.45. Lithium Americas Corp. has a fifty-two week low of $17.58 and a fifty-two week high of $40.39.
Analysts Set New Price Targets
A number of analysts have commented on LAC shares. Piper Sandler decreased their price target on shares of Lithium Americas from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, December 15th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $34.00 to $30.00 in a research note on Tuesday, January 10th. TD Securities boosted their price target on shares of Lithium Americas from C$35.00 to C$40.00 in a research note on Friday, October 28th. National Bank Financial reduced their target price on shares of Lithium Americas from $42.50 to $38.50 in a research note on Monday, January 16th. Finally, Evercore ISI initiated coverage on shares of Lithium Americas in a research note on Wednesday, November 16th. They issued an “outperform” rating and a $35.00 target price for the company. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $38.31.
About Lithium Americas
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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