Sterling Investment Counsel LLC purchased a new position in shares of Lithium Americas Corp. (NYSE:LAC – Free Report) during the third quarter, HoldingsChannel.com reports. The fund purchased 27,644 shares of the company’s stock, valued at approximately $75,000.
Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in shares of Lithium Americas in the second quarter worth $520,000. Marshall Wace LLP purchased a new position in Lithium Americas in the 2nd quarter worth $10,252,000. Merewether Investment Management LP acquired a new stake in Lithium Americas during the 2nd quarter worth about $858,000. Wealth Enhancement Advisory Services LLC grew its stake in Lithium Americas by 8.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock valued at $1,627,000 after purchasing an additional 18,388 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the period.
Lithium Americas Stock Down 5.4 %
Shares of LAC stock traded down $0.18 during trading hours on Wednesday, reaching $3.15. 3,783,085 shares of the stock were exchanged, compared to its average volume of 4,671,431. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $7.86. The business’s fifty day moving average is $2.59 and its two-hundred day moving average is $3.27.
Analysts Set New Price Targets
Several analysts recently commented on LAC shares. Piper Sandler assumed coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target on the stock. B. Riley lowered their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Finally, Scotiabank cut their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.
Read Our Latest Analysis on LAC
About Lithium Americas
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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