Belpointe Asset Management LLC Acquires New Shares in Lithium Americas Corp. (NYSE:LAC)

Belpointe Asset Management LLC acquired a new stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,547 shares of the company’s stock, valued at approximately $48,000.

Other hedge funds also recently modified their holdings of the company. Castle Wealth Management LLC boosted 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 acquiring an additional 500 shares in the last quarter. CWM LLC lifted its holdings in Lithium Americas by 47.9% during the 4th quarter. CWM LLC now owns 1,544 shares of the company’s stock worth $29,000 after buying an additional 500 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after buying an additional 725 shares during the period. Parallel Advisors LLC lifted its holdings in Lithium Americas by 1,367.5% during the 4th quarter. Parallel Advisors LLC now owns 1,805 shares of the company’s stock worth $34,000 after buying an additional 1,682 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Lithium Americas by 38.1% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,829 shares of the company’s stock worth $35,000 after buying an additional 505 shares during the period. Institutional investors and hedge funds own 21.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on LAC shares. Pi Financial reaffirmed a “buy” rating on shares of Lithium Americas in a report on Wednesday, March 8th. National Bankshares lifted their price objective on Lithium Americas from $38.50 to $42.50 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Piper Sandler lowered their price objective on Lithium Americas from $36.00 to $33.00 in a research report on Thursday, April 6th. B. Riley lifted their price objective on Lithium Americas from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Thursday, April 20th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $38.13.

Lithium Americas Stock Performance

Shares of Lithium Americas stock opened at $21.94 on Thursday. Lithium Americas Corp. has a one year low of $17.58 and a one year high of $33.10. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -56.25 and a beta of 1.46. The business has a 50-day simple moving average of $20.58 and a 200 day simple moving average of $22.14. The company has a debt-to-equity ratio of 0.20, a current ratio of 10.00 and a quick ratio of 10.00.

Lithium Americas (NYSE:LAC – Get Rating) last released its quarterly earnings results on Friday, March 31st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.06. On average, research analysts anticipate that Lithium Americas Corp. will post 0.47 earnings per share for the current fiscal 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.