Short Interest in Lithium Americas Corp. (NYSE:LAC) Drops By 14.5%

Lithium Americas Corp. (NYSE:LAC) was the target of a large decline in short interest in March. As of March 31st, there was short interest totalling 14,820,000 shares, a decline of 14.5% from the March 15th total of 17,340,000 shares. Approximately 11.4% of the company’s stock are sold short. Based on an average daily volume of 3,560,000 shares, the days-to-cover ratio is presently 4.2 days.

Wall Street Analysts Forecast Growth

LAC has been the subject of several recent research reports. Scotiabank lowered shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $15.00 to $7.00 in a report on Monday, March 18th. Evercore ISI reduced their price target on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Lithium Americas presently has a consensus rating of “Moderate Buy” and an average target price of $14.94.

Institutional Trading of Lithium Americas

Several large investors have recently made changes to their positions in the business. General Motors Holdings LLC boosted its holdings in shares of Lithium Americas by 100.0% in the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after acquiring an additional 15,002,245 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Lithium Americas by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 3,587,703 shares of the company’s stock worth $22,961,000 after buying an additional 53,563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Lithium Americas by 24.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock worth $15,122,000 after buying an additional 461,635 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Lithium Americas by 22.2% during the fourth quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company’s stock worth $13,015,000 after buying an additional 369,879 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in Lithium Americas by 395.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,057,533 shares of the company’s stock worth $6,768,000 after buying an additional 844,229 shares in the last quarter.

Lithium Americas Stock Performance

Shares of Lithium Americas stock opened at $6.80 on Tuesday. Lithium Americas has a 12-month low of $3.81 and a 12-month high of $12.38. The firm’s 50 day simple moving average is $5.65 and its two-hundred day simple moving average is $6.54.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). Sell-side analysts anticipate that Lithium Americas will post -0.15 earnings per share for the current year.

About Lithium Americas

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.