Lithium Americas Corp. (NYSE:LAC) Stock Position Boosted by Perigon Wealth Management LLC

Perigon Wealth Management LLC boosted its stake in Lithium Americas Corp. (NYSE:LAC) by 46.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,824 shares of the company’s stock after buying an additional 5,000 shares during the period. Perigon Wealth Management LLC’s holdings in Lithium Americas were worth $47,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC purchased a new stake in Lithium Americas during the second quarter valued at about $520,000. Squarepoint Ops LLC raised its position in Lithium Americas by 21.6% during the second quarter. Squarepoint Ops LLC now owns 82,296 shares of the company’s stock valued at $221,000 after acquiring an additional 14,593 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Lithium Americas by 75.9% during the second quarter. The Manufacturers Life Insurance Company now owns 78,554 shares of the company’s stock valued at $209,000 after acquiring an additional 33,900 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Lithium Americas by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 41,943 shares of the company’s stock valued at $112,000 after purchasing an additional 4,504 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after purchasing an additional 5,000 shares during the last quarter.

Lithium Americas Trading Down 4.2 %

Shares of Lithium Americas stock opened at $2.88 on Tuesday. The stock has a fifty day simple moving average of $3.33 and a 200 day simple moving average of $3.06. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $7.71. The company has a market capitalization of $634.47 million, a P/E ratio of -23.96 and a beta of 1.67.

Wall Street Analyst Weigh In

LAC has been the topic of several analyst reports. B. Riley increased their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Wedbush began coverage on Lithium Americas in a report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price target for the company. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler decreased their target price on Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $5.51.

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.