FourThought Financial Partners LLC Invests $742,000 in Lithium Americas Corp. $LAC

FourThought Financial Partners LLC bought a new position in Lithium Americas Corp. (NYSE:LAC) during the fourth quarter, Holdings Channel.com reports. The firm bought 170,273 shares of the company’s stock, valued at approximately $742,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LAC. Van ECK Associates Corp boosted its stake in shares of Lithium Americas by 158.1% in the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock worth $82,679,000 after buying an additional 8,868,971 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Lithium Americas by 1,188.3% in the 3rd quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after buying an additional 3,050,405 shares during the last quarter. Old West Investment Management LLC purchased a new position in shares of Lithium Americas in the 3rd quarter worth approximately $7,647,000. Kailix Advisors LLC purchased a new position in shares of Lithium Americas in the 4th quarter worth approximately $5,123,000. Finally, Invesco Ltd. boosted its stake in shares of Lithium Americas by 44.3% in the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock worth $13,736,000 after buying an additional 739,007 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LAC. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a research note on Monday, February 23rd. Wedbush started coverage on Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Scotiabank dropped their price objective on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.71.

Lithium Americas Trading Up 4.7%

Shares of LAC stock opened at $4.99 on Friday. The company’s fifty day simple moving average is $4.62 and its two-hundred day simple moving average is $4.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 5.16. Lithium Americas Corp. has a 1 year low of $2.47 and a 1 year high of $10.52. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -12.16 and a beta of 2.50.

Lithium Americas (NYSE:LAC) last issued its earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07. As a group, analysts anticipate that Lithium Americas Corp. will post -0.16 earnings per share for the current year.

Lithium Americas Company 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.