Legal & General Group Plc Sells 476,731 Shares of Lithium Americas Corp. $LAC

Legal & General Group Plc lowered its position in Lithium Americas Corp. (NYSE:LAC) by 33.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 967,105 shares of the company’s stock after selling 476,731 shares during the period. Legal & General Group Plc owned approximately 0.44% of Lithium Americas worth $2,589,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Mackenzie Financial Corp boosted its stake in Lithium Americas by 8.7% in the first quarter. Mackenzie Financial Corp now owns 95,359 shares of the company’s stock valued at $258,000 after acquiring an additional 7,658 shares in the last quarter. Koss Olinger Consulting LLC boosted its position in shares of Lithium Americas by 67.1% in the 1st quarter. Koss Olinger Consulting LLC now owns 311,209 shares of the company’s stock worth $843,000 after purchasing an additional 124,970 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Lithium Americas in the 1st quarter worth $504,000. American Century Companies Inc. purchased a new position in Lithium Americas during the 1st quarter worth $277,000. Finally, HITE Hedge Asset Management LLC increased its position in Lithium Americas by 0.6% during the 1st quarter. HITE Hedge Asset Management LLC now owns 735,918 shares of the company’s stock valued at $1,994,000 after buying an additional 4,445 shares in the last quarter.

Lithium Americas Price Performance

Shares of NYSE:LAC opened at $5.33 on Monday. Lithium Americas Corp. has a twelve month low of $2.31 and a twelve month high of $10.52. The company has a current ratio of 3.77, a quick ratio of 3.77 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.62 billion, a PE ratio of -5.08 and a beta of 1.39. The company’s 50 day moving average is $6.08 and its 200 day moving average is $4.06.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.03. On average, sell-side analysts forecast that Lithium Americas Corp. will post -0.12 EPS for the current year.

Insiders Place Their Bets

In other Lithium Americas news, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Edward Grandy sold 6,183 shares of Lithium Americas stock in a transaction dated 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 owned 135,466 shares of the company’s stock, valued at $609,597. The trade was a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 364,874 shares of company stock valued at $3,404,477 over the last 90 days. 1.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LAC. Cormark raised Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 19th. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Thursday, November 6th. Finally, TD Securities downgraded shares of Lithium Americas from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a research note on Thursday, September 25th. Three investment 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’s stock. According to MarketBeat.com, Lithium Americas currently has an average rating of “Hold” and a consensus 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.