Cambridge Investment Research Advisors Inc. lessened its holdings in Lithium Americas Corp. (NYSE:LAC – Free Report) by 28.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,840 shares of the company’s stock after selling 19,016 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Lithium Americas were worth $948,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its holdings in shares of Lithium Americas by 3.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 27,018 shares of the company’s stock worth $588,000 after purchasing an additional 958 shares during the period. Armstrong Advisory Group Inc. raised its holdings in shares of Lithium Americas by 156.5% in the 1st quarter. Armstrong Advisory Group Inc. now owns 1,475 shares of the company’s stock worth $32,000 after purchasing an additional 900 shares during the period. NewGen Asset Management Ltd raised its holdings in shares of Lithium Americas by 135.0% in the 1st quarter. NewGen Asset Management Ltd now owns 282,000 shares of the company’s stock worth $6,136,000 after purchasing an additional 162,000 shares during the period. Allworth Financial LP raised its holdings in shares of Lithium Americas by 68.2% in the 1st quarter. Allworth Financial LP now owns 3,945 shares of the company’s stock worth $86,000 after purchasing an additional 1,600 shares during the period. Finally, U S Global Investors Inc. raised its holdings in shares of Lithium Americas by 33.3% in the 1st quarter. U S Global Investors Inc. now owns 20,000 shares of the company’s stock worth $435,000 after purchasing an additional 5,000 shares during the period. Hedge funds and other institutional investors own 27.28% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on LAC. Stifel Nicolaus began coverage on shares of Lithium Americas in a report on Thursday. They issued a “buy” rating and a $15.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Lithium Americas from $26.00 to $25.00 in a report on Thursday, August 10th. Piper Sandler lowered their target price on shares of Lithium Americas from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, September 1st. Scotiabank assumed coverage on shares of Lithium Americas in a report on Thursday. They set a “sector outperform” rating and a $20.00 target price on the stock. Finally, HSBC lowered their target price on shares of Lithium Americas from $36.00 to $30.00 in a report on Friday, June 23rd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $33.18.
Lithium Americas Trading Down 7.1 %
Lithium Americas stock opened at $10.89 on Friday. The stock has a market cap of $1.74 billion, a P/E ratio of -98.99 and a beta of 1.47. Lithium Americas Corp. has a fifty-two week low of $8.06 and a fifty-two week high of $29.48. The firm’s fifty day moving average price is $17.92 and its 200-day moving average price is $19.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 10.13 and a current ratio of 10.13.
Lithium Americas (NYSE:LAC – Get Free Report) last announced its earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.29. Equities research analysts forecast that Lithium Americas Corp. will post 0.14 earnings per share for the current fiscal year.
Lithium Americas Company Profile
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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