Van ECK Associates Corp Increases Holdings in Lithium Americas Corp. (NYSE:LAC)

Van ECK Associates Corp grew its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 21.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,156,430 shares of the company’s stock after buying an additional 374,162 shares during the quarter. Van ECK Associates Corp’s holdings in Lithium Americas were worth $32,001,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in Lithium Americas by 48.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 900,068 shares of the company’s stock worth $14,466,000 after purchasing an additional 293,607 shares during the period. Axel Capital Management LLC increased its position in shares of Lithium Americas by 6.4% during the first quarter. Axel Capital Management LLC now owns 830,000 shares of the company’s stock worth $13,338,000 after acquiring an additional 50,000 shares during the period. Morgan Stanley increased its position in shares of Lithium Americas by 142.3% during the first quarter. Morgan Stanley now owns 501,821 shares of the company’s stock worth $8,065,000 after acquiring an additional 294,701 shares during the period. Graham Capital Management L.P. increased its position in shares of Lithium Americas by 32.3% during the first quarter. Graham Capital Management L.P. now owns 436,500 shares of the company’s stock worth $7,014,000 after acquiring an additional 106,500 shares during the period. Finally, Formidable Asset Management LLC increased its position in shares of Lithium Americas by 21.4% during the first quarter. Formidable Asset Management LLC now owns 429,199 shares of the company’s stock worth $6,686,000 after acquiring an additional 75,667 shares during the period. 13.55% of the stock is currently owned by institutional investors.

Shares of LAC opened at $23.34 on Wednesday. The company has a market cap of $2.80 billion, a price-to-earnings ratio of -55.57 and a beta of 1.33. Lithium Americas Corp. has a twelve month low of $6.71 and a twelve month high of $28.75. The company has a quick ratio of 56.73, a current ratio of 56.73 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $16.79 and a two-hundred day moving average of $15.46.

Lithium Americas (NYSE:LAC) last announced its earnings results on Wednesday, August 4th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.09). On average, sell-side analysts expect that Lithium Americas Corp. will post -0.39 EPS for the current year.

LAC has been the topic of a number of research reports. Cowen raised their target price on shares of Lithium Americas from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, August 30th. Zacks Investment Research lowered shares of Lithium Americas from a “hold” rating to a “sell” rating in a research report on Wednesday, August 18th. Industrial Alliance Securities started coverage on shares of Lithium Americas in a research note on Wednesday, June 23rd. They set a “buy” rating on the stock. Finally, National Bank Financial reiterated an “outperform spec overweight” rating on shares of Lithium Americas in a research note on Tuesday, June 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.28.

About Lithium Americas

Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.

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Institutional Ownership by Quarter for Lithium Americas (NYSE:LAC)

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