Wedbush Securities Inc. Takes $32,000 Position in Lithium Americas Corp. (NYSE:LAC)

Wedbush Securities Inc. purchased a new stake in shares of Lithium Americas Corp. (NYSE:LAC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,010 shares of the company’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LAC. General Motors Holdings LLC raised its holdings in shares of Lithium Americas by 100.0% during the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after purchasing an additional 15,002,245 shares in the last quarter. Van ECK Associates Corp lifted its position 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 during the last quarter. Wolverine Asset Management LLC lifted its position in Lithium Americas by 69.3% during the 2nd quarter. Wolverine Asset Management LLC now owns 268,622 shares of the company’s stock worth $720,000 after acquiring an additional 110,000 shares during the last quarter. Brown Advisory Inc. acquired a new position in Lithium Americas during the 4th quarter worth $644,000. Finally, Koss Olinger Consulting LLC acquired a new position in Lithium Americas during the 2nd quarter worth $244,000.

Lithium Americas Price Performance

LAC opened at $2.39 on Monday. Lithium Americas Corp. has a one year low of $2.02 and a one year high of $12.38. The company’s 50 day simple moving average is $2.55 and its 200-day simple moving average is $3.92.

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). On average, equities analysts anticipate that Lithium Americas Corp. will post -0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. National Bank Financial raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, June 5th. B. Riley cut their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Piper Sandler began coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. Finally, Scotiabank lowered their target price on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 15th. Six equities 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 presently has an average rating of “Moderate Buy” and an average target price of $6.61.

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.