BNP Paribas Financial Markets Sells 17,726 Shares of Lithium Americas Corp. (NYSE:LAC)

BNP Paribas Financial Markets trimmed its position in Lithium Americas Corp. (NYSE:LAC) by 16.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 88,550 shares of the company’s stock after selling 17,726 shares during the period. BNP Paribas Financial Markets’ holdings in Lithium Americas were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in Lithium Americas in the 2nd quarter valued at $27,000. AE Wealth Management LLC acquired a new position in Lithium Americas in the second quarter valued at about $27,000. Evergreen Capital Management LLC bought a new stake in Lithium Americas during the second quarter worth about $27,000. Quent Capital LLC grew its stake in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Lithium Americas in the 2nd quarter valued at about $30,000.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.24 on Tuesday. Lithium Americas Corp. has a 1 year low of $2.02 and a 1 year high of $7.71. The firm has a market cap of $715.02 million and a PE ratio of -27.00. The company has a 50 day simple moving average of $3.64 and a 200 day simple moving average of $2.99.

Wall Street Analysts Forecast Growth

LAC has been the topic of several recent analyst reports. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Scotiabank decreased their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, B. Riley lifted their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.63.

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.