Van ECK Associates Corp Increases Stock Position in Lithium Americas Corp. (NYSE:LAC)

Van ECK Associates Corp raised its holdings in shares of Lithium Americas Corp. (NYSE:LAC) by 22.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,033,397 shares of the company’s stock after purchasing an additional 369,879 shares during the quarter. Van ECK Associates Corp’s holdings in Lithium Americas were worth $13,015,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in LAC. CWM LLC boosted its stake in Lithium Americas by 140.6% during the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $40,000 after acquiring an additional 1,360 shares during the last quarter. Dynamic Advisor Solutions LLC lifted its position in shares of Lithium Americas by 3.6% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company’s stock worth $368,000 after purchasing an additional 2,126 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Lithium Americas by 71.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,275 shares of the company’s stock worth $90,000 after purchasing an additional 2,201 shares in the last quarter. Csenge Advisory Group increased its holdings in Lithium Americas by 13.1% in the third quarter. Csenge Advisory Group now owns 20,254 shares of the company’s stock valued at $345,000 after buying an additional 2,345 shares during the last quarter. Finally, Operose Advisors LLC bought a new stake in Lithium Americas in the third quarter valued at about $44,000.

Analyst Ratings Changes

LAC has been the subject of several research reports. HSBC decreased their target price on Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a research report on Friday, April 19th. Evercore ISI decreased their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, March 15th. Scotiabank downgraded shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.18.

Lithium Americas Stock Performance

Shares of NYSE:LAC opened at $4.36 on Thursday. The firm’s 50 day moving average is $5.79 and its two-hundred day moving average is $5.97. Lithium Americas Corp. has a 52 week low of $3.81 and a 52 week high of $12.38.

Lithium Americas (NYSE:LAC) last posted its earnings results on Friday, March 15th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). On average, sell-side analysts predict that Lithium Americas Corp. will post -0.12 earnings per share 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.