Mackenzie Financial Corp Increases Stock Position in Lithium Americas Corp. (NYSE:LAC)

Mackenzie Financial Corp boosted its stake in Lithium Americas Corp. (NYSE:LAC) by 28.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,589 shares of the company’s stock after purchasing an additional 57,232 shares during the quarter. Mackenzie Financial Corp owned about 0.16% of Lithium Americas worth $1,653,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP purchased a new stake in Lithium Americas in the 4th quarter worth $37,000. CWM LLC lifted its stake in Lithium Americas by 140.6% in the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after purchasing an additional 1,360 shares in the last quarter. Operose Advisors LLC purchased a new stake in Lithium Americas in the 3rd quarter worth $44,000. International Assets Investment Management LLC bought a new stake in shares of Lithium Americas in the 4th quarter worth about $71,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Lithium Americas by 71.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,275 shares of the company’s stock worth $90,000 after buying an additional 2,201 shares during the last quarter.

Wall Street Analyst Weigh In

LAC has been the topic of a number of research reports. HSBC reduced their target price on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a report on Monday, March 18th. Evercore ISI reduced their target price on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, March 15th. Finally, Scotiabank downgraded shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $15.00 to $7.00 in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.18.

Lithium Americas Stock Down 1.5 %

Shares of NYSE:LAC opened at $4.68 on Wednesday. The firm’s 50 day simple moving average is $5.79 and its 200-day simple moving average is $6.18. Lithium Americas Corp. has a one year low of $3.81 and a one year high of $12.38.

Lithium Americas (NYSE:LAC) last issued its earnings results on Friday, March 15th. The company reported ($0.08) EPS for the quarter, hitting analysts’ consensus estimates of ($0.08). As a group, equities analysts expect that Lithium Americas Corp. will post -0.15 earnings per share for the current 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.