2,134,056 Shares in Lithium Americas Corp. $LAC Purchased by Firetrail Investments PTY Ltd.

Firetrail Investments PTY Ltd. purchased a new stake in shares of Lithium Americas Corp. (NYSE:LAC) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,134,056 shares of the company’s stock, valued at approximately $17,542,000. Lithium Americas comprises about 4.9% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 5th largest holding. Firetrail Investments PTY Ltd. owned about 0.61% of Lithium Americas as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LAC. Millennium Management LLC lifted its stake in Lithium Americas by 1,188.3% in the third quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after purchasing an additional 3,050,405 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Lithium Americas by 20.8% during the fourth quarter. Van ECK Associates Corp now owns 17,495,908 shares of the company’s stock valued at $76,282,000 after buying an additional 3,016,293 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Lithium Americas by 212.7% in the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after buying an additional 2,082,891 shares during the period. Trexquant Investment LP purchased a new stake in shares of Lithium Americas in the fourth quarter worth approximately $6,055,000. Finally, Kailix Advisors LLC bought a new stake in shares of Lithium Americas during the 4th quarter worth approximately $5,123,000.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LAC shares. The Goldman Sachs Group assumed coverage on Lithium Americas in a report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price objective for the company. Wedbush began coverage on Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price on the stock. BMO Capital Markets decreased their target price on Lithium Americas from $4.50 to $4.00 and set a “market perform” rating for the company in a research report on Friday. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.33.

Lithium Americas Stock Up 0.1%

Shares of NYSE LAC opened at $3.38 on Monday. Lithium Americas Corp. has a 52-week low of $2.66 and a 52-week high of $10.52. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of -9.15 and a beta of 2.58. The stock has a 50 day moving average price of $3.55 and a 200 day moving average price of $4.34. The company has a debt-to-equity ratio of 0.81, a quick ratio of 5.47 and a current ratio of 5.47.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.02. Sell-side analysts expect that Lithium Americas Corp. will post -0.14 earnings per share for the current year.

Lithium Americas Profile

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.