320,300 Shares in Lithium Americas Corp. (NYSE:LAC) Acquired by Merewether Investment Management LP

Merewether Investment Management LP purchased a new stake in Lithium Americas Corp. (NYSE:LAC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 320,300 shares of the company's stock, valued at approximately $858,000. Merewether Investment Management LP owned approximately 0.15% of Lithium Americas at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LAC. General Motors Holdings LLC increased its stake in Lithium Americas by 100.0% in the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company's stock valued at $190,829,000 after purchasing an additional 15,002,245 shares in the last quarter. Marshall Wace LLP bought a new stake in Lithium Americas in the second quarter valued at $10,252,000. Van ECK Associates Corp increased its stake in Lithium Americas by 69.8% in the second quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock valued at $10,591,000 after purchasing an additional 1,625,149 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Lithium Americas in the second quarter valued at $520,000. Finally, Wolverine Asset Management LLC increased its position in shares of Lithium Americas by 69.3% during the second quarter. Wolverine Asset Management LLC now owns 268,622 shares of the company's stock worth $720,000 after acquiring an additional 110,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler assumed coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a "neutral" rating and a $3.90 target price for the company. B. Riley decreased their target price on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a research report on Friday, August 16th. National Bank Financial raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday, June 5th. Finally, Scotiabank decreased their target price on shares of Lithium Americas from $5.50 to $3.00 and set a "sector perform" rating for the company in a research report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $6.61.

Lithium Americas Trading Down 1.6 %

LAC stock traded down $0.04 during trading on Wednesday, reaching $2.42. The stock had a trading volume of 2,655,812 shares, compared to its average volume of 4,078,003. Lithium Americas Corp. has a one year low of $2.02 and a one year high of $12.38. The company's 50 day moving average is $2.48 and its two-hundred day moving average is $3.77.

Lithium Americas (NYSE:LAC - Get Free Report) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). Research analysts anticipate that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

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.