Lithium Americas Corp. $LAC Shares Sold by UMB Bank n.a.

UMB Bank n.a. reduced its position in shares of Lithium Americas Corp. (NYSE:LAC) by 79.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 28,605 shares of the company’s stock after selling 108,939 shares during the period. UMB Bank n.a.’s holdings in Lithium Americas were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LAC. Bank of Montreal Can boosted its stake in shares of Lithium Americas by 3,173.0% in the second quarter. Bank of Montreal Can now owns 846,998 shares of the company’s stock worth $2,266,000 after acquiring an additional 821,120 shares during the last quarter. Invesco Ltd. lifted its holdings in Lithium Americas by 38.0% in the 2nd quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock valued at $4,466,000 after purchasing an additional 459,252 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in Lithium Americas during the 2nd quarter worth $1,057,000. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 324,518 shares in the last quarter. Finally, Teamwork Financial Advisors LLC raised its position in shares of Lithium Americas by 26.6% in the third quarter. Teamwork Financial Advisors LLC now owns 1,281,740 shares of the company’s stock valued at $7,319,000 after buying an additional 268,918 shares during the last quarter.

Insiders Place Their Bets

In other Lithium Americas news, SVP Edward Grandy sold 6,183 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $4.50, for a total transaction of $27,823.50. Following the sale, the senior vice president directly owned 135,466 shares in the company, valued at $609,597. This represents a 4.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 10,960 shares of company stock worth $49,372. 1.11% of the stock is owned by corporate insiders.

Lithium Americas Stock Down 6.6%

LAC stock opened at $4.83 on Thursday. Lithium Americas Corp. has a one year low of $2.31 and a one year high of $10.52. The firm has a market cap of $1.47 billion, a PE ratio of -4.60 and a beta of 1.55. The firm’s 50 day moving average price is $5.27 and its 200-day moving average price is $4.80. The company has a debt-to-equity ratio of 0.84, a quick ratio of 3.77 and a current ratio of 3.77.

Lithium Americas (NYSE:LAC) last posted 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. On average, equities research analysts anticipate that Lithium Americas Corp. will post -0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LAC shares. Scotiabank raised their price target on shares of Lithium Americas from $5.00 to $7.00 and gave the stock a “sector perform” rating in a research note on Monday, January 12th. Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a research note on Wednesday, November 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Wednesday, January 28th. JPMorgan Chase & Co. upgraded Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a research report on Thursday, November 6th. Finally, Cormark raised Lithium Americas from a “hold” rating to a “moderate buy” rating in a report on Friday, November 21st. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.81.

About Lithium Americas

Lithium Americas Corp. is a Vancouver‐based resource company focused on the development of lithium projects to support the global transition to electric vehicles and renewable energy storage. The company specializes in advancing lithium brine and claystone assets through feasibility studies, environmental permitting and engineering design. Its technical teams work to produce high‐purity lithium chemicals, including lithium carbonate and lithium hydroxide, for battery manufacturers worldwide.

Lithium Americas’ two flagship projects are the Cauchari‐Olaroz lithium brine operation in Jujuy Province, Argentina—developed in partnership with Ganfeng Lithium—and the Thacker Pass lithium clay deposit in northern Nevada, United States.