DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Grows Stock Position in Lithium Americas Corp. (NYSE:LAC)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Lithium Americas Corp. (NYSE:LAC – Get Rating) by 10.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 577,661 shares of the company’s stock after buying an additional 52,729 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Lithium Americas were worth $11,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tradewinds Capital Management LLC raised its holdings in Lithium Americas by 270.6% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,260 shares of the company’s stock valued at $25,000 after buying an additional 920 shares during the period. Northern Oak Wealth Management Inc. raised its holdings in Lithium Americas by 169.5% during the 1st quarter. Northern Oak Wealth Management Inc. now owns 795 shares of the company’s stock valued at $31,000 after buying an additional 500 shares during the period. PNC Financial Services Group Inc. raised its holdings in Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock valued at $32,000 after buying an additional 725 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Lithium Americas by 54.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,648 shares of the company’s stock valued at $33,000 after buying an additional 580 shares during the period. Finally, Orion Capital Management LLC purchased a new stake in Lithium Americas during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 23.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. TD Securities increased their target price on Lithium Americas from C$35.00 to C$40.00 in a research note on Friday, October 28th. Piper Sandler reiterated an “overweight” rating and issued a $38.00 target price on shares of Lithium Americas in a research note on Tuesday, September 20th. Canaccord Genuity Group reduced their target price on Lithium Americas from C$50.50 to C$50.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. B. Riley reiterated a “buy” rating on shares of Lithium Americas in a research note on Friday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Lithium Americas from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, October 4th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $39.50.

Lithium Americas Price Performance

LAC opened at $23.47 on Friday. Lithium Americas Corp. has a 12-month low of $18.89 and a 12-month high of $40.39. The company has a current ratio of 52.06, a quick ratio of 52.06 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $25.21 and its 200-day simple moving average is $25.36. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of -33.53 and a beta of 1.38.

Lithium Americas Company Profile

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Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.