108,700 Shares in Lithium Americas Corp. (NYSE:LAC) Purchased by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. acquired a new position in shares of Lithium Americas Corp. (NYSE:LAC) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 108,700 shares of the company’s stock, valued at approximately $323,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. National Bank of Canada FI boosted its stake in Lithium Americas by 13.2% during the third quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock worth $100,000 after buying an additional 4,340 shares during the period. Allworth Financial LP boosted its position in shares of Lithium Americas by 99.4% during the 4th quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after purchasing an additional 4,893 shares during the period. Perigon Wealth Management LLC increased its holdings in Lithium Americas by 46.2% in the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock valued at $47,000 after purchasing an additional 5,000 shares during the last quarter. Creative Planning increased its holdings in Lithium Americas by 21.8% in the 3rd quarter. Creative Planning now owns 33,276 shares of the company’s stock valued at $90,000 after purchasing an additional 5,945 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in Lithium Americas by 13.4% in the third quarter. HighTower Advisors LLC now owns 50,473 shares of the company’s stock valued at $138,000 after purchasing an additional 5,952 shares during the period.

Lithium Americas Stock Performance

Shares of LAC opened at $2.90 on Thursday. Lithium Americas Corp. has a 1 year low of $2.02 and a 1 year high of $7.71. The stock has a market capitalization of $638.88 million, a PE ratio of -24.13 and a beta of 1.77. The stock has a 50-day simple moving average of $3.05 and a 200-day simple moving average of $3.13.

Wall Street Analysts Forecast Growth

LAC has been the subject of a number of research reports. Wedbush started coverage on Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective for the company. Piper Sandler dropped their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Cormark raised shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Lithium Americas has a consensus rating of “Hold” and an average price target of $5.51.

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.