Lithium Americas Corp. (NYSE:LAC) Stock Position Trimmed by General Motors Holdings LLC

General Motors Holdings LLC lowered its holdings in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 50.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,002,243 shares of the company's stock after selling 15,002,245 shares during the quarter. Lithium Americas accounts for 31.0% of General Motors Holdings LLC's portfolio, making the stock its 2nd biggest holding. General Motors Holdings LLC owned about 6.80% of Lithium Americas worth $40,506,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of Lithium Americas in the second quarter valued at approximately $10,252,000. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock worth $10,591,000 after buying an additional 1,625,149 shares during the period. Point72 Asset Management L.P. grew its position in shares of Lithium Americas by 580.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company's stock worth $4,977,000 after buying an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC increased its stake in shares of Lithium Americas by 2,274.3% during the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock valued at $1,077,000 after buying an additional 381,965 shares during the period. Finally, Merewether Investment Management LP purchased a new position in shares of Lithium Americas during the second quarter valued at $858,000.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BMO Capital Markets upgraded shares of Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. Scotiabank dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating on the stock in a research note on Friday, October 18th. Piper Sandler initiated coverage on shares of Lithium Americas in a report on Monday, July 29th. They set a "neutral" rating and a $3.90 price objective on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a report on Friday, August 16th. Finally, National Bank Financial upgraded Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Lithium Americas currently has an average rating of "Hold" and a consensus target price of $5.50.

Lithium Americas Stock Performance

LAC stock traded down $0.17 on Friday, hitting $3.92. 9,666,354 shares of the company's stock were exchanged, compared to its average volume of 15,829,059. The firm has a 50 day moving average price of $2.96 and a two-hundred day moving average price of $3.10. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $7.86. The stock has a market cap of $865.03 million and a P/E ratio of -32.67.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.01) earnings per share for the quarter, topping analysts' consensus estimates of ($0.03) by $0.02. Sell-side analysts expect that Lithium Americas Corp. will post -0.09 earnings per share for the current fiscal year.

About Lithium Americas

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.