Legal & General Group Plc Has $5.06 Million Stock Position in Lithium Americas Corp. (NYSE:LAC)

Legal & General Group Plc cut its stake in Lithium Americas Corp. (NYSE:LAC - Free Report) by 14.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,696,190 shares of the company's stock after selling 293,130 shares during the period. Legal & General Group Plc owned approximately 0.77% of Lithium Americas worth $5,057,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Teamwork Financial Advisors LLC lifted its position in Lithium Americas by 79.2% in the fourth quarter. Teamwork Financial Advisors LLC now owns 714,381 shares of the company's stock worth $2,122,000 after purchasing an additional 315,621 shares during the period. Alberta Investment Management Corp acquired a new stake in shares of Lithium Americas in the fourth quarter valued at $686,000. Independent Wealth Network Inc. boosted its stake in Lithium Americas by 133.4% during the fourth quarter. Independent Wealth Network Inc. now owns 216,973 shares of the company's stock valued at $644,000 after buying an additional 123,993 shares in the last quarter. Prosperity Wealth Management Inc. bought a new position in Lithium Americas during the fourth quarter valued at about $323,000. Finally, Tidal Investments LLC grew its holdings in Lithium Americas by 31.8% during the third quarter. Tidal Investments LLC now owns 379,078 shares of the company's stock worth $1,024,000 after acquiring an additional 91,353 shares during the period.

Lithium Americas Stock Performance

NYSE:LAC traded down $0.06 during trading hours on Friday, hitting $2.91. 4,141,002 shares of the company's stock traded hands, compared to its average volume of 5,556,098. The stock's fifty day moving average price is $2.80 and its two-hundred day moving average price is $3.19. The firm has a market cap of $641.09 million, a P/E ratio of -24.21 and a beta of 1.01. Lithium Americas Corp. has a twelve month low of $2.02 and a twelve month high of $5.20.

Lithium Americas (NYSE:LAC - Get Free Report) last issued its 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 research analysts predict that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

LAC has been the subject of several research reports. Evercore ISI started coverage on shares of Lithium Americas in a research report on Thursday, April 17th. They set an "outperform" rating and a $4.50 price objective for the company. Scotiabank decreased their price target 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. Cormark upgraded Lithium Americas to a "moderate buy" rating in a research report on Friday, January 17th. Piper Sandler decreased their target price on Lithium Americas from $3.90 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Lithium Americas currently 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.