Teamwork Financial Advisors LLC Buys 268,918 Shares of Lithium Americas Corp. $LAC

Teamwork Financial Advisors LLC boosted its stake in Lithium Americas Corp. (NYSE:LAC) by 26.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,281,740 shares of the company’s stock after buying an additional 268,918 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Lithium Americas were worth $7,319,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. increased its holdings in shares of Lithium Americas by 86.1% in the second quarter. Harbour Investments Inc. now owns 9,900 shares of the company’s stock worth $27,000 after purchasing an additional 4,580 shares during the last quarter. Walleye Capital LLC purchased a new position in Lithium Americas during the 2nd quarter valued at approximately $28,000. IHT Wealth Management LLC bought a new stake in Lithium Americas in the 2nd quarter worth approximately $28,000. International Assets Investment Management LLC bought a new stake in Lithium Americas in the 2nd quarter worth approximately $32,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $39,000.

Analyst Ratings Changes

LAC has been the subject of a number of recent research reports. TD Cowen reissued a “hold” rating and issued a $5.00 target price on shares of Lithium Americas in a report on Thursday, September 25th. Wedbush increased their price objective on shares of Lithium Americas from $5.00 to $8.00 and gave the company a “neutral” rating in a research report on Wednesday, October 1st. Jefferies Financial Group reduced their target price on shares of Lithium Americas from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, September 24th. Scotiabank upgraded shares of Lithium Americas from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 13th. Finally, Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a report on Wednesday, November 19th. Three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Trading Down 2.2%

LAC stock opened at $4.51 on Friday. Lithium Americas Corp. has a twelve month low of $2.31 and a twelve month high of $10.52. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -4.30 and a beta of 1.40. The company has a quick ratio of 3.77, a current ratio of 3.77 and a debt-to-equity ratio of 0.84. The firm’s fifty day simple moving average is $5.64 and its two-hundred day simple moving average is $4.18.

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

Insider Activity

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

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.