Teamwork Financial Advisors LLC Takes $68,000 Position in Lithium Americas Corp. (NYSE:LAC)

Teamwork Financial Advisors LLC bought a new position in Lithium Americas Corp. (NYSE:LAC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,050 shares of the company’s stock, valued at approximately $68,000.

Other hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. increased its holdings in shares of Lithium Americas by 71.6% during the third quarter. PNC Financial Services Group Inc. now owns 5,275 shares of the company’s stock worth $90,000 after buying an additional 2,201 shares in the last quarter. LPL Financial LLC increased its holdings in Lithium Americas by 82.6% during the 3rd quarter. LPL Financial LLC now owns 223,701 shares of the company’s stock valued at $3,805,000 after purchasing an additional 101,174 shares in the last quarter. Alps Advisors Inc. raised its position in Lithium Americas by 53.7% in the 3rd quarter. Alps Advisors Inc. now owns 17,183 shares of the company’s stock valued at $292,000 after purchasing an additional 6,004 shares during the last quarter. Seven Eight Capital LP acquired a new position in Lithium Americas in the third quarter worth $411,000. Finally, Scotia Capital Inc. grew its holdings in shares of Lithium Americas by 2.5% during the third quarter. Scotia Capital Inc. now owns 376,609 shares of the company’s stock worth $6,397,000 after purchasing an additional 9,130 shares during the last quarter.

Lithium Americas Price Performance

NYSE:LAC opened at $2.74 on Friday. The stock has a 50-day moving average price of $3.60 and a two-hundred day moving average price of $4.88. Lithium Americas Corp. has a 1 year low of $2.51 and a 1 year high of $12.38.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). Research analysts expect that Lithium Americas Corp. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on LAC. Evercore ISI reduced their price target on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. JPMorgan Chase & Co. upped their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. HSBC lowered their price target on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a report on Friday, April 19th. Eight Capital decreased their price objective on Lithium Americas from $13.50 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. Finally, National Bank Financial raised Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Lithium Americas has a consensus rating of “Moderate Buy” and an average price target of $11.46.

Lithium Americas 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.