Credit Industriel ET Commercial Makes New $908,000 Investment in Lithium Americas Corp. $LAC

Credit Industriel ET Commercial acquired a new stake in shares of Lithium Americas Corp. (NYSE:LAC) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 230,000 shares of the company’s stock, valued at approximately $908,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Lithium Americas by 158.1% during the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $82,679,000 after buying an additional 8,868,971 shares during the period. Millennium Management LLC increased its stake in Lithium Americas by 1,188.3% during the third quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after acquiring an additional 3,050,405 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Lithium Americas by 212.7% in the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock worth $13,349,000 after purchasing an additional 2,082,891 shares during the period. Trexquant Investment LP acquired a new position in shares of Lithium Americas in the 4th quarter valued at about $6,055,000. Finally, Kailix Advisors LLC purchased a new stake in shares of Lithium Americas during the 4th quarter worth about $5,123,000.

Analyst Upgrades and Downgrades

Several research analysts recently commented on LAC shares. Scotiabank cut their price target on shares of Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th. Wall Street Zen raised shares of Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Scotia cut their target price on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research note on Monday, May 25th. The Goldman Sachs Group started coverage on shares of Lithium Americas in a report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 target price on the stock. Finally, Wedbush initiated coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lithium Americas currently has a consensus rating of “Hold” and an average target price of $5.44.

Lithium Americas Stock Down 1.4%

Shares of NYSE:LAC opened at $3.77 on Tuesday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -9.18 and a beta of 2.47. The company has a 50 day moving average of $4.75 and a two-hundred day moving average of $4.78. Lithium Americas Corp. has a 52-week low of $2.47 and a 52-week high of $10.52. The company has a quick ratio of 7.36, a current ratio of 7.36 and a debt-to-equity ratio of 0.65.

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.