Lithium Americas Corp. $LAC Position Increased by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC increased its position in shares of Lithium Americas Corp. (NYSE:LAC) by 33.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,582 shares of the company’s stock after acquiring an additional 4,200 shares during the period. Axxcess Wealth Management LLC’s holdings in Lithium Americas were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Independent Wealth Network Inc. raised its holdings in shares of Lithium Americas by 3.4% during the second quarter. Independent Wealth Network Inc. now owns 239,255 shares of the company’s stock worth $641,000 after acquiring an additional 7,823 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Lithium Americas by 63.2% during the second quarter. Perigon Wealth Management LLC now owns 25,824 shares of the company’s stock worth $69,000 after acquiring an additional 10,000 shares in the last quarter. Revisor Wealth Management LLC raised its holdings in shares of Lithium Americas by 16.2% during the second quarter. Revisor Wealth Management LLC now owns 184,293 shares of the company’s stock worth $525,000 after acquiring an additional 25,732 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Lithium Americas by 5.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 328,582 shares of the company’s stock worth $874,000 after acquiring an additional 15,898 shares in the last quarter. Finally, Teamwork Financial Advisors LLC raised its holdings in shares of Lithium Americas by 18.1% during the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock worth $2,714,000 after acquiring an additional 155,068 shares in the last quarter.

Insiders Place Their Bets

In related news, VP Alexi Illya Zawadzki sold 353,914 shares of Lithium Americas stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total transaction of $3,355,104.72. Following the sale, the vice president directly owned 40,005 shares of the company’s stock, valued at $379,247.40. This trade represents a 89.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LAC has been the subject of several recent research reports. Canaccord Genuity Group lowered Lithium Americas from a “speculative buy” rating to a “sell” rating in a report on Thursday, October 2nd. Cowen lowered Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday, September 24th. Cormark lowered Lithium Americas from a “moderate buy” rating to a “hold” rating in a report on Thursday, October 2nd. JPMorgan Chase & Co. restated an “underweight” rating and set a $5.00 target price on shares of Lithium Americas in a report on Thursday. Finally, Scotiabank reaffirmed a “sector underperform” rating and issued a $5.00 price target (up from $2.75) on shares of Lithium Americas in a research report on Monday, October 6th. Three research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Lithium Americas currently has an average rating of “Reduce” and an average price target of $5.30.

Lithium Americas Trading Down 8.3%

Shares of NYSE:LAC opened at $6.78 on Monday. The company has a market cap of $1.67 billion, a P/E ratio of -29.46 and a beta of 1.43. The stock’s 50-day moving average is $4.62 and its 200-day moving average is $3.43. Lithium Americas Corp. has a 52-week low of $2.31 and a 52-week high of $10.52. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Equities research analysts predict that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

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. Lithium Americas Corp.