CoreCap Advisors LLC Raises Position in Lithium Americas Corp. (NYSE:LAC)

CoreCap Advisors LLC lifted its stake in Lithium Americas Corp. (NYSE:LAC) by 134.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,288 shares of the company’s stock after buying an additional 8,773 shares during the period. CoreCap Advisors LLC’s holdings in Lithium Americas were worth $45,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quinn Opportunity Partners LLC increased its holdings 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. HITE Hedge Asset Management LLC lifted its holdings in Lithium Americas by 150.9% during the 4th quarter. HITE Hedge Asset Management LLC now owns 731,473 shares of the company’s stock worth $2,172,000 after buying an additional 439,974 shares during the last quarter. Teamwork Financial Advisors LLC lifted its holdings in Lithium Americas by 79.2% during the 4th quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company’s stock worth $2,122,000 after buying an additional 315,621 shares during the last quarter. Decade Renewable Partners LP bought a new position in Lithium Americas during the 4th quarter worth approximately $1,331,000. Finally, Alberta Investment Management Corp bought a new position in Lithium Americas during the 4th quarter worth approximately $686,000.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LAC shares. Scotiabank reduced their target price on Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating on the stock in a report on Monday, March 31st. Evercore ISI started coverage on Lithium Americas in a report on Thursday, April 17th. They set an “outperform” rating and a $4.50 target price on the stock. National Bankshares reaffirmed an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Finally, Cormark raised Lithium Americas to a “moderate buy” rating in a report on Friday, January 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas currently has a consensus rating of “Hold” and a consensus target price of $3.88.

Lithium Americas Trading Up 1.3%

Shares of NYSE LAC opened at $3.08 on Thursday. The business has a 50-day moving average price of $2.83 and a two-hundred day moving average price of $3.18. Lithium Americas Corp. has a one year low of $2.02 and a one year high of $5.20. The firm has a market capitalization of $673.55 million, a PE ratio of -25.67 and a beta of 0.89.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data 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). Research analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current year.

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. Lithium Americas Corp.