Reaves W H & Co. Inc. Has $4.53 Million Holdings in Lithium Americas Corp. $LAC

Reaves W H & Co. Inc. lifted its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 420.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,040,000 shares of the company’s stock after purchasing an additional 840,000 shares during the period. Reaves W H & Co. Inc.’s holdings in Lithium Americas were worth $4,534,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas by 158.1% during the third quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock worth $82,679,000 after purchasing an additional 8,868,971 shares during the period. Millennium Management LLC lifted its holdings in shares of Lithium Americas by 1,188.3% during the third quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after purchasing an additional 3,050,405 shares during the period. Legal & General Group Plc lifted its holdings in shares of Lithium Americas by 212.7% during the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after purchasing an additional 2,082,891 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Lithium Americas by 1.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after purchasing an additional 45,941 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Lithium Americas by 44.3% during the third quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after purchasing an additional 739,007 shares during the period.

Lithium Americas Price Performance

LAC stock opened at $5.22 on Monday. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -12.74 and a beta of 2.32. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65. Lithium Americas Corp. has a 12-month low of $2.47 and a 12-month high of $10.52. The company’s fifty day simple moving average is $4.69 and its 200 day simple moving average is $4.91.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07. On average, analysts expect that Lithium Americas Corp. will post -0.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LAC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wedbush started coverage on shares of Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price on the stock. Wall Street Zen upgraded shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. TD Securities upgraded shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Finally, Scotia dropped their target price on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday, May 25th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.56.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.