Scotia Capital Inc. Lowers Holdings in Lithium Americas Corp. (NYSE:LAC)

Scotia Capital Inc. lessened its holdings in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 48.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,036 shares of the company's stock after selling 285,805 shares during the quarter. Scotia Capital Inc. owned about 0.14% of Lithium Americas worth $915,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sage Investment Counsel LLC acquired a new stake in Lithium Americas during the 4th quarter worth approximately $30,000. Allworth Financial LP boosted its holdings in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company's stock valued at $31,000 after purchasing an additional 4,893 shares during the period. Axxcess Wealth Management LLC acquired a new position in Lithium Americas during the 4th quarter worth $37,000. Thoroughbred Financial Services LLC purchased a new stake in Lithium Americas during the 4th quarter worth about $39,000. Finally, Perigon Wealth Management LLC boosted its stake in shares of Lithium Americas by 46.2% in the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company's stock valued at $47,000 after buying an additional 5,000 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Piper Sandler cut their target price on shares of Lithium Americas from $3.90 to $3.50 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Scotiabank dropped their price objective 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. Wedbush assumed coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They set a "neutral" rating and a $5.00 price objective for the company. Evercore ISI started coverage on Lithium Americas in a report on Thursday. They issued an "outperform" rating and a $4.50 target price on the stock. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Lithium Americas currently has a consensus rating of "Hold" and a consensus price target of $4.79.

Lithium Americas Stock Performance

NYSE LAC traded down $0.02 on Friday, reaching $2.69. The stock had a trading volume of 2,881,676 shares, compared to its average volume of 5,719,689. The stock has a market cap of $592.54 million, a P/E ratio of -22.38 and a beta of 1.01. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $5.20. The business's 50-day moving average price is $2.82 and its 200 day moving average price is $3.19.

Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings results on Friday, March 28th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.09). On average, sell-side analysts predict that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

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.