Van ECK Associates Corp Increases Stock Position in Lithium Americas Corp. (NYSE:LAC)

Van ECK Associates Corp raised its position in Lithium Americas Corp. (NYSE:LAC) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,033,397 shares of the company’s stock after buying an additional 369,879 shares during the period. Van ECK Associates Corp owned about 1.27% of Lithium Americas worth $13,015,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CWM LLC grew its holdings in Lithium Americas by 140.6% in the third quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $40,000 after purchasing an additional 1,360 shares during the period. Commonwealth Equity Services LLC grew its stake in Lithium Americas by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 336,658 shares of the company’s stock valued at $5,727,000 after acquiring an additional 3,909 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in Lithium Americas by 28.4% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 203,969 shares of the company’s stock worth $3,470,000 after acquiring an additional 45,155 shares in the last quarter. Independent Advisor Alliance acquired a new position in Lithium Americas during the third quarter worth $202,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Lithium Americas by 13.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,247 shares of the company’s stock valued at $619,000 after purchasing an additional 4,161 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on LAC shares. JPMorgan Chase & Co. upped their price target on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Evercore ISI reduced their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, March 15th. HSBC decreased their target price on Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a research report on Friday, April 19th. Finally, Scotiabank downgraded Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $15.00 to $7.00 in a research note on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Lithium Americas currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.18.

Lithium Americas Stock Performance

Shares of NYSE:LAC opened at $4.36 on Thursday. Lithium Americas Corp. has a 52-week low of $3.81 and a 52-week high of $12.38. The business has a fifty day moving average of $5.79 and a two-hundred day moving average of $5.97.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.08). On average, analysts expect that Lithium Americas Corp. will post -0.12 EPS for the current fiscal 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.