HITE Hedge Asset Management LLC Boosts Holdings in Lithium Americas Corp. (NYSE:LAC)

HITE Hedge Asset Management LLC increased its holdings in Lithium Americas Corp. (NYSE:LAC - Free Report) by 150.9% during the fourth quarter, according to its most recent disclosure with the 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LAC. Quinn Opportunity Partners LLC boosted its position in shares of Lithium Americas by 1,132.5% during the 4th quarter. Quinn Opportunity Partners LLC now owns 811,632 shares of the company's stock valued at $2,411,000 after acquiring an additional 745,777 shares during the last quarter. Teamwork Financial Advisors LLC raised its stake in Lithium Americas by 79.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company's stock valued at $2,122,000 after purchasing an additional 315,621 shares in the last quarter. Tidal Investments LLC lifted its position in Lithium Americas by 31.8% during the third quarter. Tidal Investments LLC now owns 379,078 shares of the company's stock valued at $1,024,000 after purchasing an additional 91,353 shares during the last quarter. Alberta Investment Management Corp purchased a new position in Lithium Americas in the 4th quarter worth approximately $686,000. Finally, Independent Wealth Network Inc. increased its holdings in shares of Lithium Americas by 133.4% in the 4th quarter. Independent Wealth Network Inc. now owns 216,973 shares of the company's stock worth $644,000 after buying an additional 123,993 shares during the last quarter.

Lithium Americas Stock Up 0.4 %

Shares of Lithium Americas stock traded up $0.01 on Monday, hitting $2.69. The stock had a trading volume of 2,957,385 shares, compared to its average volume of 5,590,781. The stock's 50-day simple moving average is $2.82 and its two-hundred day simple moving average is $3.20. Lithium Americas Corp. has a one year low of $2.02 and a one year high of $5.20. The stock has a market cap of $593.64 million, a price-to-earnings ratio of -22.42 and a beta of 1.01.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Friday, March 28th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.09). As a group, equities analysts predict that Lithium Americas Corp. will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on LAC shares. Cormark raised shares of Lithium Americas to a "moderate buy" rating in a report on Friday, January 17th. Evercore ISI initiated coverage on Lithium Americas in a report on Thursday. They issued an "outperform" rating and a $4.50 price objective for the company. National Bankshares reissued an "outperform" rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Scotiabank cut their target price on Lithium Americas from $3.00 to $2.75 and set a "sector perform" rating for the company in a research note on Monday, March 31st. Finally, Piper Sandler reduced their price target on shares of Lithium Americas from $3.90 to $3.50 and set a "neutral" rating on the stock in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Lithium Americas presently has an average rating of "Moderate Buy" and an average target price of $4.75.

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.