Intact Investment Management Inc. Purchases New Stake in Lithium Americas Corp. (NYSE:LAC)

Intact Investment Management Inc. purchased a new stake in shares of Lithium Americas Corp. (NYSE:LAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 92,700 shares of the company’s stock, valued at approximately $595,000. Intact Investment Management Inc. owned approximately 0.06% of Lithium Americas at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its position in Lithium Americas by 140.6% in the third quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after buying an additional 1,360 shares during the period. Commonwealth Equity Services LLC increased its position in Lithium Americas by 1.2% in the third quarter. Commonwealth Equity Services LLC now owns 336,658 shares of the company’s stock worth $5,727,000 after buying an additional 3,909 shares during the period. Aquila Investment Management LLC increased its position in Lithium Americas by 11.1% in the third quarter. Aquila Investment Management LLC now owns 120,000 shares of the company’s stock worth $2,041,000 after buying an additional 12,000 shares during the period. Balboa Wealth Partners increased its position in Lithium Americas by 6.6% in the third quarter. Balboa Wealth Partners now owns 44,673 shares of the company’s stock worth $760,000 after buying an additional 2,785 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Lithium Americas by 28.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 203,969 shares of the company’s stock worth $3,470,000 after purchasing an additional 45,155 shares in the last quarter.

Lithium Americas Stock Up 4.5 %

LAC opened at $4.62 on Monday. Lithium Americas Corp. has a fifty-two week low of $3.81 and a fifty-two week high of $12.38. The business has a 50-day moving average of $5.78 and a 200-day moving average of $6.05.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). As a group, sell-side analysts anticipate that Lithium Americas Corp. will post -0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LAC has been the subject of several recent analyst reports. Scotiabank cut Lithium Americas from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the stock from $15.00 to $7.00 in a research note on Monday, March 18th. Evercore ISI decreased their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, March 15th. 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 note on Friday, April 19th. Finally, JPMorgan Chase & Co. raised their target price on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.18.

Lithium Americas Company 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.