Lithium Americas Corp. $LAC Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC decreased its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 91.1% in the third quarter, Holdings Channel reports. The firm owned 79,931 shares of the company’s stock after selling 813,464 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Lithium Americas were worth $210,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Independent Wealth Network Inc. boosted its holdings in Lithium Americas by 49.0% during the third quarter. Independent Wealth Network Inc. now owns 204,456 shares of the company’s stock valued at $538,000 after purchasing an additional 67,241 shares in the last quarter. Tidal Investments LLC grew its stake in shares of Lithium Americas by 5.2% in the 2nd quarter. Tidal Investments LLC now owns 75,367 shares of the company’s stock valued at $290,000 after purchasing an additional 3,728 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Lithium Americas in the 2nd quarter valued at approximately $838,000. Concurrent Investment Advisors LLC raised its holdings in shares of Lithium Americas by 75.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 23,683 shares of the company’s stock worth $91,000 after buying an additional 10,199 shares in the last quarter. Finally, Legacy Financial Advisors Inc. acquired a new position in shares of Lithium Americas in the 2nd quarter worth approximately $155,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LAC shares. Canaccord Genuity Group upgraded Lithium Americas from a “hold” rating to a “speculative buy” rating in a research report on Thursday. The Goldman Sachs Group initiated coverage on Lithium Americas in a research report on Wednesday, July 1st. They issued a “neutral” rating and a $4.50 price target on the stock. BMO Capital Markets set a $3.50 price objective on Lithium Americas in a research note on Tuesday, October 6th. JPMorgan Chase & Co. started coverage on Lithium Americas in a report on Wednesday, September 9th. They set an “overweight” rating and a $6.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research note on Friday, July 24th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.25.

Lithium Americas Price Performance

NYSE:LAC traded down $0.03 on Monday, reaching $2.15. The stock had a trading volume of 6,020,684 shares, compared to its average volume of 10,919,325. The company has a market capitalization of $782.35 million, a P/E ratio of -5.82 and a beta of 2.64. Lithium Americas Corp. has a 1-year low of $2.04 and a 1-year high of $7.25. The company has a quick ratio of 5.47, a current ratio of 5.47 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $2.85 and a 200-day moving average price of $3.75.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.02. Research analysts forecast that Lithium Americas Corp. will post -0.07 EPS for the current year.

About Lithium Americas

Lithium Americas Corp. is a lithium development company focused on advancing domestic battery-materials production in North America. Its principal asset is the Thacker Pass lithium project in Humboldt County, Nevada, one of the largest known lithium deposits in the United States. The project is designed to produce battery-grade lithium carbonate for use in electric vehicle batteries and other energy-storage applications.

Thacker Pass is being developed in phases and is expected to use a processing method intended to recover lithium from sedimentary claystone.