Van ECK Associates Corp Acquires 8,868,971 Shares of Lithium Americas Corp. $LAC

Van ECK Associates Corp increased its stake in Lithium Americas Corp. (NYSE:LAC) by 158.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,479,615 shares of the company’s stock after buying an additional 8,868,971 shares during the period. Van ECK Associates Corp owned 0.06% of Lithium Americas worth $82,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LAC. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Lithium Americas by 1.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock worth $7,350,000 after purchasing an additional 45,941 shares during the period. Invesco Ltd. boosted its position in shares of Lithium Americas by 38.0% in the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock worth $4,466,000 after purchasing an additional 459,252 shares in the last quarter. Old West Investment Management LLC purchased a new stake in shares of Lithium Americas during the third quarter worth about $7,647,000. Teamwork Financial Advisors LLC increased its stake in Lithium Americas by 26.6% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company’s stock valued at $7,319,000 after purchasing an additional 268,918 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after acquiring an additional 324,518 shares during the period.

Lithium Americas Stock Performance

Shares of LAC stock opened at $4.68 on Wednesday. Lithium Americas Corp. has a 52 week low of $2.31 and a 52 week high of $10.52. The firm has a 50 day moving average of $5.14 and a two-hundred day moving average of $5.13. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.42 billion, a PE ratio of -4.45 and a beta of 1.49.

Wall Street Analysts Forecast Growth

LAC has been the topic of several recent research reports. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. TD Securities upgraded Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Scotiabank increased their target price on shares of Lithium Americas from $5.00 to $7.00 and gave the company a “sector perform” rating in a research report on Monday, January 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research report on Wednesday, January 28th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.81.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.