Van ECK Associates Corp Grows Stake in Lithium Americas Corp. (NYSE:LAC)

Van ECK Associates Corp lifted its holdings in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 69.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,953,127 shares of the company's stock after acquiring an additional 1,625,149 shares during the quarter. Van ECK Associates Corp owned approximately 1.79% of Lithium Americas worth $10,591,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new position in shares of Lithium Americas in the first quarter valued at $25,000. Mather Group LLC. acquired a new position in Lithium Americas in the 1st quarter valued at about $26,000. Quent Capital LLC bought a new position in Lithium Americas in the 1st quarter valued at about $48,000. Headlands Technologies LLC lifted its position in Lithium Americas by 2,332.3% during the first quarter. Headlands Technologies LLC now owns 7,686 shares of the company's stock worth $52,000 after acquiring an additional 7,370 shares during the last quarter. Finally, Cowen AND Company LLC bought a new stake in shares of Lithium Americas during the fourth quarter worth approximately $64,000.

Lithium Americas Stock Performance

NYSE:LAC traded down $0.14 during trading hours on Monday, hitting $2.45. The company's stock had a trading volume of 4,280,300 shares, compared to its average volume of 4,178,202. Lithium Americas Corp. has a twelve month low of $2.02 and a twelve month high of $12.38. The stock has a fifty day simple moving average of $2.62 and a 200-day simple moving average of $4.07.

Analysts Set New Price Targets

LAC has been the subject of several recent research reports. Eight Capital reduced their price target on Lithium Americas from $13.50 to $10.00 and set a "buy" rating for the company in a research note on Tuesday, May 14th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating on the stock in a research note on Friday, August 16th. B. Riley lowered their price target on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating on the stock in a research report on Friday, August 16th. National Bank Financial raised shares of Lithium Americas to a "hold" rating in a report on Wednesday, June 5th. Finally, Scotiabank lowered their target price on shares of Lithium Americas from $5.50 to $3.00 and set a "sector perform" rating on the stock in a report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.61.

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.