Massmutual Trust Co. FSB ADV bought a new position in Lithium Americas Corp. (NYSE:LAC – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,031 shares of the company’s stock, valued at approximately $52,000.
A number of other hedge funds also recently bought and sold shares of LAC. IFP Advisors Inc grew its position in shares of Lithium Americas by 18.8% in the 2nd quarter. IFP Advisors Inc now owns 5,435 shares of the company’s stock worth $29,000 after buying an additional 859 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in Lithium Americas in the 1st quarter worth $32,000. PNC Financial Services Group Inc. raised its holdings in Lithium Americas by 725.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Lithium Americas in the 1st quarter worth about $42,000. Finally, Captrust Financial Advisors boosted its stake in shares of Lithium Americas by 224.9% during the 1st quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock valued at $47,000 after purchasing an additional 839 shares in the last quarter. Hedge funds and other institutional investors own 27.28% of the company’s stock.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price objective (down from $25.00) on shares of Lithium Americas in a research report on Wednesday, October 18th. National Bank Financial initiated coverage on Lithium Americas in a research note on Wednesday. They issued an “outperform” rating on the stock. B. Riley assumed coverage on Lithium Americas in a research report on Monday, October 16th. They set a “buy” rating and a $14.00 price objective for the company. Stifel Canada reaffirmed a “buy” rating on shares of Lithium Americas in a research report on Thursday, October 5th. Finally, Canaccord Genuity Group assumed coverage on shares of Lithium Americas in a research report on Tuesday, October 31st. They set a “speculative buy” rating for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.61.
Lithium Americas Stock Up 3.7 %
NYSE LAC traded up $0.26 during mid-day trading on Friday, reaching $7.21. The stock had a trading volume of 1,354,073 shares, compared to its average volume of 2,800,636. The stock has a market cap of $1.15 billion, a PE ratio of 31.35 and a beta of 1.46. Lithium Americas Corp. has a 1 year low of $6.32 and a 1 year high of $12.38. The company has a debt-to-equity ratio of 0.16, a current ratio of 12.43 and a quick ratio of 12.43. The company has a fifty day moving average price of $11.49 and a 200 day moving average price of $16.98.
Lithium Americas Company Profile
Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.
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