Allworth Financial LP Raises Stake in Lithium Americas Corp. (NYSE:LAC)

Allworth Financial LP grew its stake in shares of Lithium Americas Corp. (NYSE:LAC) by 99.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,814 shares of the company’s stock after purchasing an additional 4,893 shares during the period. Allworth Financial LP’s holdings in Lithium Americas were worth $31,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its position in shares of Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after purchasing an additional 3,693 shares in the last quarter. Perigon Wealth Management LLC boosted its position in shares of Lithium Americas by 46.2% during the 4th quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after purchasing an additional 5,000 shares in the last quarter. Quotient Wealth Partners LLC purchased a new stake in shares of Lithium Americas during the 4th quarter worth $49,000. HB Wealth Management LLC purchased a new stake in shares of Lithium Americas in the 4th quarter worth about $55,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Lithium Americas in the 3rd quarter worth about $67,000.

Lithium Americas Price Performance

NYSE LAC opened at $2.77 on Wednesday. Lithium Americas Corp. has a 12 month low of $2.02 and a 12 month high of $7.71. The company has a 50-day moving average of $3.11 and a 200-day moving average of $3.11. The company has a market cap of $610.19 million, a P/E ratio of -23.04 and a beta of 1.68.

Analysts Set New Price Targets

Several research firms recently commented on LAC. Wedbush began coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective on the stock. B. Riley boosted their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler cut their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $5.51.

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.