Point72 Asset Management L.P. Has $4.98 Million Stock Holdings in Lithium Americas Corp. (NYSE:LAC)

Point72 Asset Management L.P. boosted its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 580.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,857,193 shares of the company’s stock after acquiring an additional 1,584,123 shares during the period. Point72 Asset Management L.P.’s holdings in Lithium Americas were worth $4,977,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in LAC. General Motors Holdings LLC lifted its position in Lithium Americas by 100.0% in the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after acquiring an additional 15,002,245 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Lithium Americas during the 4th quarter worth approximately $217,000. Mather Group LLC. acquired a new stake in shares of Lithium Americas in the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise bought a new stake in shares of Lithium Americas in the first quarter worth $25,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Lithium Americas by 8.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after purchasing an additional 18,388 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LAC. Deutsche Bank Aktiengesellschaft dropped their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. B. Riley cut their price objective on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. National Bank Financial upgraded shares of Lithium Americas to a “hold” rating in a report on Wednesday, June 5th. Scotiabank dropped their price target on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. Finally, Piper Sandler started coverage on shares of Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 target price for the company. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $6.61.

Lithium Americas Stock Down 4.6 %

Shares of NYSE LAC opened at $2.58 on Wednesday. The stock’s fifty day moving average price is $2.47 and its two-hundred day moving average price is $3.66. Lithium Americas Corp. has a one year low of $2.02 and a one year high of $12.38.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities research analysts expect that Lithium Americas Corp. will post -0.09 EPS for the current 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.