Northwestern Mutual Wealth Management Co. Boosts Stake in Lithium Americas Corp. (NYSE:LAC)

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Lithium Americas Corp. (NYSE:LAC) by 12.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 41,943 shares of the company’s stock after purchasing an additional 4,504 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lithium Americas were worth $112,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in shares of Lithium Americas in the first quarter worth $25,000. Mather Group LLC. bought a new position in Lithium Americas in the 1st quarter worth $26,000. Fairscale Capital LLC purchased a new stake in Lithium Americas in the 2nd quarter worth $27,000. AE Wealth Management LLC purchased a new stake in Lithium Americas in the 2nd quarter worth $27,000. Finally, Evergreen Capital Management LLC bought a new stake in Lithium Americas during the second quarter valued at about $27,000.

Analysts Set New Price Targets

LAC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on 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 report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. B. Riley lowered their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Scotiabank cut their target price on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research note on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Stock Up 8.6 %

Lithium Americas stock opened at $2.90 on Friday. Lithium Americas Corp. has a 52-week low of $2.02 and a 52-week high of $10.00. The firm’s fifty day moving average is $2.47 and its 200 day moving average is $3.53.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (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 fiscal year.

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.