HITE Hedge Asset Management LLC Has $2.17 Million Stock Holdings in Lithium Americas Corp. (NYSE:LAC)

HITE Hedge Asset Management LLC raised its stake in Lithium Americas Corp. (NYSE:LAC) by 150.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 731,473 shares of the company’s stock after buying an additional 439,974 shares during the period. HITE Hedge Asset Management LLC owned 0.33% of Lithium Americas worth $2,172,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. XTX Topco Ltd increased its holdings in Lithium Americas by 145.7% in the 4th quarter. XTX Topco Ltd now owns 121,247 shares of the company’s stock worth $360,000 after purchasing an additional 71,895 shares in the last quarter. Mariner LLC acquired a new stake in Lithium Americas during the 4th quarter worth approximately $31,000. Barclays PLC increased its position in Lithium Americas by 28.1% in the 4th quarter. Barclays PLC now owns 147,633 shares of the company’s stock valued at $438,000 after acquiring an additional 32,425 shares during the period. Quinn Opportunity Partners LLC raised its position in Lithium Americas by 1,132.5% during the 4th quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company’s stock worth $2,411,000 after purchasing an additional 745,777 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Lithium Americas in the 4th quarter valued at about $130,000.

Lithium Americas Stock Down 0.6 %

Lithium Americas stock opened at $2.69 on Friday. The stock has a market cap of $592.54 million, a P/E ratio of -22.38 and a beta of 1.01. The company’s 50 day moving average price is $2.82 and its two-hundred day moving average price is $3.19. Lithium Americas Corp. has a 52 week low of $2.02 and a 52 week high of $5.20.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Friday, March 28th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.09). On average, equities analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on LAC shares. Wedbush started coverage on Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 target price on the stock. National Bankshares restated an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Evercore ISI assumed coverage on Lithium Americas in a research report on Thursday. They issued an “outperform” rating and a $4.50 price objective for the company. Piper Sandler reduced their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Scotiabank dropped their target price on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a research report on Monday, March 31st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and a consensus target price of $4.79.

Lithium Americas 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. Lithium Americas Corp.