HITE Hedge Asset Management LLC Purchases Shares of 291,499 Lithium Americas Corp. (NYSE:LAC)

HITE Hedge Asset Management LLC purchased a new stake in shares of Lithium Americas Corp. (NYSE:LAC) in the third quarter, according to its most recent filing with the SEC. The firm purchased 291,499 shares of the company’s stock, valued at approximately $787,000. HITE Hedge Asset Management LLC owned 0.13% of Lithium Americas at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in Lithium Americas by 13.4% during the 3rd quarter. HighTower Advisors LLC now owns 50,473 shares of the company’s stock worth $138,000 after acquiring an additional 5,952 shares during the last quarter. Centiva Capital LP lifted its stake in shares of Lithium Americas by 71.7% in the 3rd quarter. Centiva Capital LP now owns 231,946 shares of the company’s stock valued at $626,000 after purchasing an additional 96,896 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of Lithium Americas by 3.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 278,622 shares of the company’s stock valued at $752,000 after buying an additional 10,000 shares during the last quarter. Creative Financial Designs Inc. ADV increased its stake in Lithium Americas by 39.5% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock worth $35,000 after buying an additional 3,693 shares in the last quarter. Finally, Hedges Asset Management LLC lifted its holdings in Lithium Americas by 100.0% in the third quarter. Hedges Asset Management LLC now owns 50,000 shares of the company’s stock valued at $135,000 after acquiring an additional 25,000 shares during the last quarter.

Lithium Americas Stock Performance

LAC stock opened at $3.95 on Tuesday. Lithium Americas Corp. has a 52-week low of $2.02 and a 52-week high of $7.71. The company’s 50 day simple moving average is $3.47 and its 200-day simple moving average is $3.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Scotiabank decreased 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 note on Friday, October 18th. B. Riley upped their price target on Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Lithium Americas currently has a consensus rating of “Hold” and a consensus target price of $5.63.

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.