BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,352 shares of the company’s stock after buying an additional 2,099 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Lithium Americas were worth $860,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in LAC. PNC Financial Services Group Inc. boosted its position in Lithium Americas by 725.0% during the first quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after purchasing an additional 725 shares during the period. Canada Pension Plan Investment Board bought a new position in Lithium Americas during the first quarter worth about $42,000. Captrust Financial Advisors boosted its position in Lithium Americas by 224.9% during the first quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock worth $47,000 after purchasing an additional 839 shares during the period. CWM LLC boosted its position in Lithium Americas by 47.9% during the fourth quarter. CWM LLC now owns 1,544 shares of the company’s stock worth $29,000 after purchasing an additional 500 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in Lithium Americas by 2,308.3% during the third quarter. Advisors Asset Management Inc. now owns 1,734 shares of the company’s stock worth $45,000 after purchasing an additional 1,662 shares during the period. Institutional investors own 21.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on LAC. 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 research report on Wednesday, February 8th. B. Riley increased their price target on shares of Lithium Americas from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Pi Financial reissued a “buy” rating on shares of Lithium Americas in a report on Wednesday, March 8th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Lithium Americas from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. Finally, Piper Sandler lowered their price target on shares of Lithium Americas from $36.00 to $33.00 in a report on Thursday, April 6th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $38.13.
Lithium Americas Stock Performance
Lithium Americas (NYSE:LAC – Get Rating) last issued its earnings results on Friday, March 31st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.06. On average, sell-side analysts forecast that Lithium Americas Corp. will post 0.53 EPS for the current year.
Lithium Americas Company Profile
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.
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