Wolverine Asset Management LLC Raises Stock Holdings in Lithium Americas Corp. (NYSE:LAC)

Wolverine Asset Management LLC boosted its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 69.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 268,622 shares of the company’s stock after purchasing an additional 110,000 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.12% of Lithium Americas worth $720,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LAC. General Motors Holdings LLC increased its stake in shares of Lithium Americas by 100.0% in the fourth quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock worth $190,829,000 after buying an additional 15,002,245 shares during the last quarter. Van ECK Associates Corp grew its holdings in Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock worth $10,591,000 after acquiring an additional 1,625,149 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Lithium Americas in the 4th quarter worth about $644,000. Tidal Investments LLC raised its stake in shares of Lithium Americas by 51.9% in the 1st quarter. Tidal Investments LLC now owns 253,303 shares of the company’s stock valued at $1,705,000 after purchasing an additional 86,570 shares in the last quarter. Finally, Scotia Capital Inc. lifted its position in shares of Lithium Americas by 17.5% during the fourth quarter. Scotia Capital Inc. now owns 442,641 shares of the company’s stock worth $2,826,000 after purchasing an additional 66,032 shares during the last quarter.

Analyst Ratings Changes

Several brokerages recently weighed in on LAC. Eight Capital lowered their price objective on Lithium Americas from $13.50 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 14th. National Bank Financial raised Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. Scotiabank decreased their price objective on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, B. Riley decreased their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.61.

Lithium Americas Stock Performance

Shares of NYSE:LAC opened at $2.32 on Friday. The firm’s 50 day moving average is $2.59 and its two-hundred day moving average is $4.02. Lithium Americas Corp. has a 52 week low of $2.02 and a 52 week high of $12.38.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, sell-side analysts predict that Lithium Americas Corp. will post -0.11 earnings per share for the current fiscal year.

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.