Independent Wealth Network Inc. Has $641,000 Holdings in Lithium Americas Corp. $LAC

Independent Wealth Network Inc. lifted its stake in shares of Lithium Americas Corp. (NYSE:LAC) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,255 shares of the company’s stock after purchasing an additional 7,823 shares during the period. Independent Wealth Network Inc. owned approximately 0.11% of Lithium Americas worth $641,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Goldman Sachs Group Inc. raised its position in Lithium Americas by 44.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock worth $2,836,000 after purchasing an additional 324,518 shares during the last quarter. Decade Renewable Partners LP raised its position in shares of Lithium Americas by 51.7% during the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock worth $1,843,000 after acquiring an additional 231,900 shares during the last quarter. Nuveen LLC acquired a new position in shares of Lithium Americas during the first quarter valued at $504,000. Teamwork Financial Advisors LLC boosted its holdings in Lithium Americas by 18.1% in the second quarter. Teamwork Financial Advisors LLC now owns 1,012,822 shares of the company’s stock valued at $2,714,000 after acquiring an additional 155,068 shares during the last quarter. Finally, UMB Bank n.a. acquired a new stake in Lithium Americas in the first quarter worth about $373,000.

Analyst Ratings Changes

LAC has been the subject of several recent research reports. Cowen cut Lithium Americas from a “buy” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group cut their price objective on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Cormark raised shares of Lithium Americas to a “moderate buy” rating in a report on Wednesday, August 20th. TD Securities cut shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research report on Thursday. Finally, TD Cowen reissued a “hold” rating and issued a $5.00 price target on shares of Lithium Americas in a research note on Thursday. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.72.

Lithium Americas Stock Down 13.9%

Shares of NYSE:LAC opened at $6.35 on Friday. The company has a 50 day moving average price of $3.14 and a two-hundred day moving average price of $2.91. The company has a debt-to-equity ratio of 0.33, a quick ratio of 9.88 and a current ratio of 9.88. The company has a market capitalization of $1.53 billion, a PE ratio of -27.59 and a beta of 0.70. Lithium Americas Corp. has a 52 week low of $2.31 and a 52 week high of $7.53.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current 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.