TD Asset Management Inc Boosts Holdings in Lithium Americas Corp. (NYSE:LAC)

TD Asset Management Inc increased its holdings in Lithium Americas Corp. (NYSE:LAC) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,599 shares of the company’s stock after purchasing an additional 33,759 shares during the period. TD Asset Management Inc’s holdings in Lithium Americas were worth $7,225,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its holdings in shares of Lithium Americas by 18.8% during the 2nd quarter. IFP Advisors Inc now owns 5,435 shares of the company’s stock worth $29,000 after acquiring an additional 859 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Lithium Americas during the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. raised its holdings in shares of Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock worth $32,000 after acquiring an additional 725 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Lithium Americas during the 1st quarter worth approximately $42,000. Finally, Captrust Financial Advisors raised its holdings in shares of Lithium Americas by 224.9% during the 1st quarter. Captrust Financial Advisors now owns 1,212 shares of the company’s stock worth $47,000 after acquiring an additional 839 shares in the last quarter. 27.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LAC has been the topic of several recent research reports. Stifel Nicolaus initiated coverage on Lithium Americas in a report on Thursday, October 5th. They set a “buy” rating and a $15.00 price objective on the stock. Canaccord Genuity Group began coverage on Lithium Americas in a report on Tuesday, October 31st. They set a “speculative buy” rating on the stock. National Bank Financial began coverage on Lithium Americas in a report on Wednesday, November 15th. They set an “outperform” rating on the stock. Piper Sandler decreased their price target on Lithium Americas from $33.00 to $29.00 and set an “overweight” rating on the stock in a report on Friday, September 1st. Finally, Stifel Canada restated a “buy” rating on shares of Lithium Americas in a report on Thursday, October 5th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.61.

Lithium Americas Stock Performance

Shares of Lithium Americas stock opened at $7.28 on Tuesday. The stock’s fifty day moving average is $11.25 and its two-hundred day moving average is $16.89. The company has a market capitalization of $1.16 billion, a PE ratio of 31.63 and a beta of 1.46. The company has a quick ratio of 12.43, a current ratio of 12.43 and a debt-to-equity ratio of 0.16. Lithium Americas Corp. has a 52 week low of $6.32 and a 52 week high of $12.38.

Lithium Americas 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. The company was incorporated in 2023 and is headquartered in Vancouver, Canada.