Shell Asset Management Co. Decreases Stake in Lithium Americas Corp. (NYSE:LAC)

Shell Asset Management Co. cut its stake in Lithium Americas Corp. (NYSE:LAC – Get Rating) by 12.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,461 shares of the company’s stock after selling 1,170 shares during the period. Shell Asset Management Co.’s holdings in Lithium Americas were worth $160,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Castle Wealth Management LLC raised its holdings in shares of Lithium Americas by 100.0% during the 3rd quarter. Castle Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $26,000 after purchasing an additional 500 shares in the last quarter. CWM LLC grew its position in Lithium Americas by 47.9% in the 4th quarter. CWM LLC now owns 1,544 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Lithium Americas by 38.1% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,829 shares of the company’s stock valued at $35,000 after acquiring an additional 505 shares in the last quarter. Spire Wealth Management boosted its position in shares of Lithium Americas by 37.9% during the 4th quarter. Spire Wealth Management now owns 2,000 shares of the company’s stock valued at $38,000 after acquiring an additional 550 shares in the last quarter. Finally, MML Investors Services LLC boosted its position in shares of Lithium Americas by 4.1% during the 3rd quarter. MML Investors Services LLC now owns 16,844 shares of the company’s stock valued at $442,000 after acquiring an additional 668 shares in the last quarter. 21.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on LAC. National Bank Financial dropped their target price on shares of Lithium Americas from $42.50 to $38.50 in a research note on Monday, January 16th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $30.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, April 20th. B. Riley upped their price target on shares of Lithium Americas from $39.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Piper Sandler reduced their target price on shares of Lithium Americas from $36.00 to $33.00 in a report on Thursday, April 6th. Finally, National Bankshares increased their target price on shares of Lithium Americas from $38.50 to $42.50 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $38.13.

Lithium Americas Price Performance

NYSE:LAC opened at $21.36 on Friday. Lithium Americas Corp. has a 52 week low of $17.58 and a 52 week high of $33.10. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of -30.51 and a beta of 1.46. The firm’s 50-day simple moving average is $20.56 and its 200 day simple moving average is $22.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 18.13 and a current ratio of 18.13.

Lithium Americas (NYSE:LAC – Get Rating) last released its quarterly earnings results on Friday, March 31st. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.06. As a group, sell-side analysts predict that Lithium Americas Corp. will post 0.6 earnings per share for the current year.

Lithium Americas Profile

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Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.