Firetrail Investments PTY Ltd. Buys Shares of 2,134,056 Lithium Americas Corp. $LAC

Firetrail Investments PTY Ltd. bought a new stake in shares of Lithium Americas Corp. (NYSE:LAC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,134,056 shares of the company’s stock, valued at approximately $17,542,000. Lithium Americas accounts for about 4.9% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 5th largest position.

Several other large investors have also modified their holdings of LAC. Goldman Sachs Group Inc. boosted its stake in shares of Lithium Americas by 44.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after purchasing an additional 324,518 shares in the last quarter. Creative Planning raised its stake in Lithium Americas by 18.4% in the second quarter. Creative Planning now owns 48,936 shares of the company’s stock worth $131,000 after buying an additional 7,610 shares in the last quarter. Invesco Ltd. lifted its holdings in Lithium Americas by 38.0% during the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock worth $4,466,000 after buying an additional 459,252 shares during the period. Walleye Capital LLC purchased a new stake in Lithium Americas during the second quarter worth $28,000. Finally, Marshall Wace LLP bought a new stake in Lithium Americas during the 2nd quarter valued at $105,000.

Lithium Americas Trading Up 0.1%

NYSE:LAC opened at $3.38 on Monday. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.15 and a beta of 2.58. Lithium Americas Corp. has a 52 week low of $2.66 and a 52 week high of $10.52. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $3.55 and a 200 day moving average of $4.34.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.02. As a group, sell-side analysts anticipate that Lithium Americas Corp. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Wedbush started coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target on the stock. Scotia decreased their price objective on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research note on Monday, May 25th. BMO Capital Markets dropped their price objective on Lithium Americas from $4.50 to $4.00 and set a “market perform” rating on the stock in a research report on Friday. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and an average price target of $5.33.

Lithium Americas Company Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.