Lithium Americas Corp. $LAC Shares Sold by Legal & General Group Plc

Legal & General Group Plc lowered its position in Lithium Americas Corp. (NYSE:LAC) by 33.0% in the second quarter, HoldingsChannel reports. The fund owned 967,105 shares of the company’s stock after selling 476,731 shares during the quarter. Legal & General Group Plc’s holdings in Lithium Americas were worth $2,589,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of LAC. Bank of Montreal Can grew its position in shares of Lithium Americas by 3,173.0% during the 2nd quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock valued at $2,266,000 after acquiring an additional 821,120 shares during the period. Goldman Sachs Group Inc. boosted its position in Lithium Americas by 44.9% during the first 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 in the last quarter. Decade Renewable Partners LP grew its holdings in Lithium Americas by 51.7% in the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock valued at $1,843,000 after purchasing an additional 231,900 shares during the period. Nuveen LLC purchased a new stake in shares of Lithium Americas in the first quarter valued at approximately $504,000. Finally, Teamwork Financial Advisors LLC increased its position in shares of 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 buying an additional 155,068 shares in the last quarter.

Insider Buying and Selling

In other news, SVP Edward Grandy sold 6,183 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $4.50, for a total transaction of $27,823.50. Following the transaction, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. The trade was a 4.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Alexi Illya Zawadzki sold 353,914 shares of the stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the sale, the vice president directly owned 40,005 shares of the company’s stock, valued at approximately $379,247.40. This represents a 89.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 364,874 shares of company stock worth $3,404,477 over the last three months. Corporate insiders own 1.11% of the company’s stock.

Lithium Americas Trading Down 2.0%

Shares of LAC opened at $5.33 on Monday. Lithium Americas Corp. has a 52-week low of $2.31 and a 52-week high of $10.52. The stock has a market cap of $1.62 billion, a PE ratio of -5.08 and a beta of 1.39. The firm’s fifty day moving average is $6.08 and its two-hundred day moving average is $4.06. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings results on Thursday, November 13th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.03. Research analysts forecast that Lithium Americas Corp. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LAC. Wedbush increased their target price on Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Cormark raised shares of Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. BMO Capital Markets upped their price target on shares of Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a research report on Thursday, October 2nd. Finally, Jefferies Financial Group decreased their price target on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.33.

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.