MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stake in Lithium Americas Corp. (NYSE:LAC)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 8.0% in the fourth quarter, HoldingsChannel reports. The fund owned 3,254,848 shares of the company’s stock after acquiring an additional 240,418 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Lithium Americas were worth $9,732,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its position in Lithium Americas by 4.4% during the 4th quarter. Ameriprise Financial Inc. now owns 104,207 shares of the company’s stock valued at $309,000 after acquiring an additional 4,379 shares during the period. Allworth Financial LP raised its holdings in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock worth $31,000 after buying an additional 4,893 shares during the last quarter. Perigon Wealth Management LLC raised its holdings in Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after buying an additional 5,000 shares during the last quarter. Balboa Wealth Partners raised its holdings in Lithium Americas by 15.9% in the fourth quarter. Balboa Wealth Partners now owns 51,118 shares of the company’s stock worth $152,000 after buying an additional 7,000 shares during the last quarter. Finally, CoreCap Advisors LLC raised its holdings in Lithium Americas by 134.7% in the fourth quarter. CoreCap Advisors LLC now owns 15,288 shares of the company’s stock worth $45,000 after buying an additional 8,773 shares during the last quarter.

Lithium Americas Stock Down 10.9%

Shares of LAC stock opened at $2.82 on Friday. The company has a 50 day moving average price of $2.84 and a 200-day moving average price of $3.17. Lithium Americas Corp. has a 52 week low of $2.02 and a 52 week high of $5.20. The firm has a market capitalization of $615.60 million, a PE ratio of -23.46 and a beta of 0.89.

Lithium Americas (NYSE:LAC) last announced its earnings results on Thursday, May 15th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). Analysts anticipate that Lithium Americas Corp. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LAC has been the subject of several recent analyst reports. National Bankshares reaffirmed an “outperform” rating on shares of Lithium Americas in a report on Wednesday, April 2nd. Wedbush reaffirmed a “neutral” rating and issued a $5.00 target price on shares of Lithium Americas in a report on Friday. Evercore ISI initiated coverage on shares of Lithium Americas in a report on Thursday, April 17th. They issued an “outperform” rating and a $4.50 target price for the company. Scotiabank decreased their target price on shares of Lithium Americas from $3.00 to $2.75 and set a “sector perform” rating for the company in a report on Monday, March 31st. Finally, Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.88.

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.