Legal & General Group Plc Grows Stock Holdings in Lithium Americas Corp. $LAC

Legal & General Group Plc increased its stake in Lithium Americas Corp. (NYSE:LAC) by 212.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,062,306 shares of the company’s stock after purchasing an additional 2,082,891 shares during the quarter. Legal & General Group Plc’s holdings in Lithium Americas were worth $13,349,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Lido Advisors LLC raised its stake in Lithium Americas by 15.1% during the 3rd quarter. Lido Advisors LLC now owns 16,643 shares of the company’s stock valued at $95,000 after buying an additional 2,183 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Lithium Americas by 16.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 16,753 shares of the company’s stock valued at $96,000 after buying an additional 2,321 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Lithium Americas by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 67,650 shares of the company’s stock worth $394,000 after buying an additional 2,356 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Lithium Americas by 0.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 322,301 shares of the company’s stock worth $1,405,000 after buying an additional 2,491 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Lithium Americas by 35.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 14,190 shares of the company’s stock worth $62,000 after acquiring an additional 3,691 shares during the period.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. Scotiabank cut their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating for the company in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Wedbush began coverage on shares of Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Finally, TD Securities raised shares of Lithium Americas to a “hold” rating in a report on Monday, February 9th. Two research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.56.

Lithium Americas Trading Up 4.0%

NYSE:LAC opened at $5.73 on Wednesday. Lithium Americas Corp. has a one year low of $2.47 and a one year high of $10.52. The business has a fifty day moving average price of $4.72 and a 200-day moving average price of $4.91. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -13.98 and a beta of 2.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36.

Lithium Americas (NYSE:LAC) last released its earnings results on Thursday, May 14th. The company reported $0.00 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.07. Sell-side analysts forecast that Lithium Americas Corp. will post -0.14 EPS for the current year.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.