UMB Bank n.a. Sells 108,939 Shares of Lithium Americas Corp. $LAC

UMB Bank n.a. trimmed its holdings in Lithium Americas Corp. (NYSE:LAC) by 79.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 28,605 shares of the company’s stock after selling 108,939 shares during the quarter. UMB Bank n.a.’s holdings in Lithium Americas were worth $163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in Lithium Americas by 44.9% during the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after purchasing an additional 324,518 shares during the period. Axxcess Wealth Management LLC grew its position in shares of Lithium Americas by 33.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 16,582 shares of the company’s stock valued at $44,000 after acquiring an additional 4,200 shares during the period. TD Asset Management Inc increased its position in Lithium Americas by 14.2% in the second quarter. TD Asset Management Inc now owns 241,323 shares of the company’s stock worth $644,000 after buying an additional 29,981 shares in the last quarter. Harbour Investments Inc. raised its stake in Lithium Americas by 86.1% during the 2nd quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after acquiring an additional 4,580 shares during the period. Finally, International Assets Investment Management LLC purchased a new position in shares of Lithium Americas during the 2nd quarter valued at $32,000.

Insider Buying and Selling

In other news, SVP Edward Grandy sold 6,183 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president owned 135,466 shares of the company’s stock, valued at $609,597. This trade represents a 4.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 10,960 shares of company stock valued at $49,372. Corporate insiders own 1.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LAC shares. Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas in a research note on Wednesday, January 28th. Cormark upgraded Lithium Americas from a “hold” rating to a “moderate buy” rating in a research note on Friday, November 21st. Scotiabank lifted their price target on shares of Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research note on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas presently has a consensus rating of “Hold” and an average target price of $5.81.

Lithium Americas Stock Down 6.6%

Lithium Americas stock opened at $4.83 on Thursday. The business’s 50-day simple moving average is $5.27 and its two-hundred day simple moving average is $4.80. The company has a market cap of $1.47 billion, a PE ratio of -4.60 and a beta of 1.55. Lithium Americas Corp. has a fifty-two week low of $2.31 and a fifty-two week high of $10.52. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77.

Lithium Americas (NYSE:LAC) last issued its earnings results on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Equities analysts anticipate that Lithium Americas Corp. will post -0.12 EPS 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.