UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 28,782 Shares of Lithium Americas Corp. (NYSE:LAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Lithium Americas Corp. (NYSE:LAC) by 17.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,806 shares of the company’s stock after selling 28,782 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.06% of Lithium Americas worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Marshall Wace LLP purchased a new position in shares of Lithium Americas during the second quarter valued at about $10,252,000. Van ECK Associates Corp grew its holdings in shares of 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 period. Point72 Asset Management L.P. raised its position in shares of Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock worth $4,977,000 after acquiring an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC lifted its stake in shares of Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period. Finally, Merewether Investment Management LP bought a new stake in shares of Lithium Americas during the second quarter valued at approximately $858,000.

Wall Street Analyst Weigh In

LAC has been the subject of a number of research reports. Wedbush started coverage on Lithium Americas in a report on Thursday. They issued a “neutral” rating and a $5.00 price objective for the company. Scotiabank decreased their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Finally, B. Riley boosted their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.56.

Lithium Americas Stock Up 1.0 %

Shares of NYSE LAC opened at $2.97 on Friday. The company has a 50 day moving average of $3.66 and a 200 day moving average of $2.98. Lithium Americas Corp. has a twelve month low of $2.02 and a twelve month high of $7.71. The firm has a market cap of $655.43 million and a P/E ratio of -24.75.

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.