Barometer Capital Management Inc. bought a new position in Lithium Americas Corp. (NYSE:LAC – Get Rating) in the first quarter, according to its most recent filing with the SEC. The firm bought 33,800 shares of the company’s stock, valued at approximately $1,627,000.
A number of other institutional investors also recently bought and sold shares of LAC. Stonebridge Capital Advisors LLC acquired a new stake in Lithium Americas in the 4th quarter worth approximately $29,000. PNC Financial Services Group Inc. lifted its stake in Lithium Americas by 725.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 825 shares of the company’s stock valued at $32,000 after acquiring an additional 725 shares during the period. Orion Capital Management LLC acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $35,000. Clearstead Advisors LLC acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $38,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Lithium Americas during the 1st quarter valued at approximately $42,000. 23.73% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have commented on the stock. Canaccord Genuity Group decreased their price objective on shares of Lithium Americas from C$50.00 to C$49.00 and set a “buy” rating for the company in a research note on Friday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Lithium Americas from $36.00 to $33.00 in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.18.
Lithium Americas Stock Performance
Lithium Americas (NYSE:LAC – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.02. As a group, sell-side analysts predict that Lithium Americas Corp. will post -0.41 EPS for the current year.
About Lithium Americas
Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina.
- Get a free copy of the StockNews.com research report on Lithium Americas (LAC)
- Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy
- Are These Green Energy Companies Right For Your Portfolio?
- When Will the Hangover Finally Be Over for Seagate Technology?
- Does Enphase Energy Have the Juice to Keep Powering Higher?
- The One Hydrogen Fuel Cell Stock To Rule Them All
Receive News & Ratings for Lithium Americas Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithium Americas and related companies with MarketBeat.com's FREE daily email newsletter.