Sterling Investment Counsel LLC Acquires New Shares in Lithium Americas Corp. (NYSE:LAC)

Sterling Investment Counsel LLC bought a new position in Lithium Americas Corp. (NYSE:LAC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 27,644 shares of the company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Renaissance Technologies LLC purchased a new stake in Lithium Americas in the second quarter worth approximately $520,000. Marshall Wace LLP bought a new stake in Lithium Americas during the 2nd quarter worth approximately $10,252,000. Merewether Investment Management LP purchased a new position in Lithium Americas during the second quarter valued at approximately $858,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Lithium Americas by 8.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock worth $1,627,000 after purchasing an additional 18,388 shares during the period. Finally, Point72 Asset Management L.P. raised its position in shares of Lithium Americas by 580.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LAC. Piper Sandler initiated coverage on Lithium Americas in a research note on Monday, July 29th. They issued a “neutral” rating and a $3.90 price target for the company. Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. B. Riley lowered their price objective on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Lithium Americas currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Lithium Americas Price Performance

Shares of LAC stock traded down $0.18 during mid-day trading on Wednesday, hitting $3.15. The stock had a trading volume of 3,783,085 shares, compared to its average volume of 4,671,431. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $7.86. The firm’s 50-day moving average is $2.59 and its two-hundred day moving average is $3.27.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, analysts predict that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

Lithium Americas Profile

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.