Wolverine Asset Management LLC Sells 52,249,878 Shares of Lithium Americas Corp. (NYSE:LAC)

Wolverine Asset Management LLC reduced its stake in shares of Lithium Americas Corp. (NYSE:LAC) by 99.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 113,122 shares of the company’s stock after selling 52,249,878 shares during the period. Wolverine Asset Management LLC’s holdings in Lithium Americas were worth $724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Lithium Americas by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock worth $60,116,000 after purchasing an additional 39,419 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Lithium Americas by 24.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after acquiring an additional 461,635 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Lithium Americas by 0.8% in the third quarter. Van ECK Associates Corp now owns 1,663,518 shares of the company’s stock valued at $28,295,000 after acquiring an additional 13,108 shares in the last quarter. CenterBook Partners LP grew its holdings in shares of Lithium Americas by 15.2% in the third quarter. CenterBook Partners LP now owns 503,361 shares of the company’s stock valued at $8,562,000 after acquiring an additional 66,421 shares in the last quarter. Finally, Formidable Asset Management LLC grew its holdings in shares of Lithium Americas by 4.6% in the third quarter. Formidable Asset Management LLC now owns 486,903 shares of the company’s stock valued at $8,265,000 after acquiring an additional 21,576 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. HSBC reduced their target price on 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. upped their target price on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Evercore ISI reduced their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Finally, Scotiabank lowered Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the company from $15.00 to $7.00 in a report on Monday, March 18th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas presently has an average rating of “Moderate Buy” and an average target price of $12.18.

Lithium Americas Trading Up 4.5 %

Lithium Americas stock opened at $4.62 on Friday. Lithium Americas Corp. has a 12 month low of $3.81 and a 12 month high of $12.38. The business’s 50 day simple moving average is $5.78 and its 200 day simple moving average is $6.11.

Lithium Americas (NYSE:LAC) last posted its earnings results on Friday, March 15th. The company reported ($0.08) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.08). Sell-side analysts expect that Lithium Americas Corp. will post -0.14 earnings per share for the current fiscal year.

Lithium Americas Company Profile

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.