General Motors Holdings LLC boosted its position in shares of Lithium Americas Corp. (NYSE:LAC - Free Report) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,004,488 shares of the company's stock after acquiring an additional 15,002,245 shares during the period. Lithium Americas accounts for about 75.6% of General Motors Holdings LLC's holdings, making the stock its biggest position. General Motors Holdings LLC owned 18.69% of Lithium Americas worth $190,829,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Swiss National Bank increased its position in Lithium Americas by 6.3% during the 3rd quarter. Swiss National Bank now owns 230,100 shares of the company's stock valued at $3,943,000 after purchasing an additional 13,600 shares during the period. D.A. Davidson & CO. increased its position in Lithium Americas by 59.2% during the 3rd quarter. D.A. Davidson & CO. now owns 25,865 shares of the company's stock valued at $440,000 after purchasing an additional 9,615 shares during the period. HighTower Advisors LLC grew its position in shares of Lithium Americas by 8.5% in the 3rd quarter. HighTower Advisors LLC now owns 42,287 shares of the company's stock worth $718,000 after buying an additional 3,321 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Lithium Americas by 71.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,275 shares of the company's stock worth $90,000 after buying an additional 2,201 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Lithium Americas in the 3rd quarter worth about $924,000.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an "outperform" rating on the stock in a research note on Friday, March 15th. HSBC cut their target price on shares of Lithium Americas from $6.50 to $5.10 and set a "hold" rating for the company in a report on Friday, April 19th. JPMorgan Chase & Co. increased their price objective on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a "neutral" rating in a research report on Monday, March 18th. Scotiabank lowered Lithium Americas from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $15.00 to $7.00 in a research report on Monday, March 18th. Finally, National Bank Financial raised Lithium Americas to a "hold" rating in a research note on Wednesday, June 5th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $11.46.
View Our Latest Research Report on LAC
Lithium Americas Trading Down 2.3 %
LAC traded down $0.07 during trading on Thursday, hitting $2.92. 3,108,594 shares of the stock were exchanged, compared to its average volume of 4,351,213. The firm has a 50 day simple moving average of $4.54 and a 200 day simple moving average of $5.25. Lithium Americas Corp. has a 1 year low of $2.90 and a 1 year high of $12.38.
Lithium Americas (NYSE:LAC - Get Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). Analysts forecast that Lithium Americas Corp. will post -0.1 earnings per share for the current year.
Lithium Americas Company Profile
(Free Report)
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.
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