Point72 Asset Management L.P. Sells 406,993 Shares of Lithium Americas Corp. (NYSE:LAC)

Point72 Asset Management L.P. lessened its holdings in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,450,200 shares of the company's stock after selling 406,993 shares during the quarter. Point72 Asset Management L.P. owned 0.66% of Lithium Americas worth $3,916,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC bought a new position in shares of Lithium Americas in the 2nd quarter valued at about $27,000. AE Wealth Management LLC bought a new position in shares of Lithium Americas in the 2nd quarter valued at about $27,000. Evergreen Capital Management LLC bought a new position in Lithium Americas during the second quarter worth about $27,000. Quent Capital LLC grew its holdings in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company's stock worth $27,000 after purchasing an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Lithium Americas during the second quarter worth about $30,000.

Lithium Americas Stock Performance

Shares of NYSE LAC traded up $0.14 during midday trading on Monday, reaching $3.62. The company's stock had a trading volume of 5,342,463 shares, compared to its average volume of 5,416,267. Lithium Americas Corp. has a fifty-two week low of $2.02 and a fifty-two week high of $7.71. The business's 50 day moving average price is $3.55 and its two-hundred day moving average price is $3.00. The company has a market cap of $798.88 million and a P/E ratio of -31.00.

Wall Street Analyst Weigh In

LAC has been the subject of a number of research analyst reports. B. Riley lifted their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, November 12th. Scotiabank cut their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a research report on Friday, October 18th. National Bank Financial upgraded shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut their price objective 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. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $5.63.

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.