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

Teamwork Financial Advisors LLC increased its stake in Lithium Americas Corp. (NYSE:LAC) by 26.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,281,740 shares of the company’s stock after purchasing an additional 268,918 shares during the quarter. Teamwork Financial Advisors LLC owned 0.53% of Lithium Americas worth $7,319,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LAC. Bank of Montreal Can lifted its holdings 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 buying an additional 821,120 shares during the period. Invesco Ltd. increased its position in Lithium Americas by 38.0% during the second quarter. Invesco Ltd. now owns 1,666,561 shares of the company’s stock valued at $4,466,000 after acquiring an additional 459,252 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Lithium Americas during the second quarter valued at $1,057,000. Goldman Sachs Group Inc. lifted its holdings in Lithium Americas by 44.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,046,556 shares of the company’s stock valued at $2,836,000 after acquiring an additional 324,518 shares during the period. Finally, Decade Renewable Partners LP boosted its position in Lithium Americas by 51.7% in the first quarter. Decade Renewable Partners LP now owns 680,100 shares of the company’s stock worth $1,843,000 after purchasing an additional 231,900 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LAC. Cowen cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a research note on Wednesday, September 24th. JPMorgan Chase & Co. raised shares of Lithium Americas from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a report on Thursday, November 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas in a research report on Friday, October 31st. Canaccord Genuity Group raised shares of Lithium Americas from a “sell” rating to a “hold” rating in a research report on Wednesday, November 19th. Finally, BMO Capital Markets raised their target price on Lithium Americas from $3.50 to $5.00 and gave the stock a “market perform” rating in a report on Thursday, October 2nd. Three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas has a consensus rating of “Hold” and a consensus target price of $5.33.

Lithium Americas Stock Performance

LAC opened at $4.51 on Friday. The company has a 50 day simple moving average of $5.64 and a two-hundred day simple moving average of $4.18. The company has a debt-to-equity ratio of 0.84, a current ratio of 3.77 and a quick ratio of 3.77. The firm has a market cap of $1.37 billion, a P/E ratio of -4.30 and a beta of 1.40. Lithium Americas Corp. has a 1-year low of $2.31 and a 1-year high of $10.52.

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

Insider Activity

In other news, VP Alexi Illya Zawadzki sold 353,914 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $9.48, for a total value of $3,355,104.72. Following the completion of the transaction, the vice president owned 40,005 shares of the company’s stock, valued at $379,247.40. This represents a 89.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Edward Grandy sold 6,183 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $4.50, for a total value of $27,823.50. Following the sale, the senior vice president owned 135,466 shares of the company’s stock, valued at $609,597. This represents a 4.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 364,874 shares of company stock worth $3,404,477 over the last 90 days. Company insiders own 1.11% of the company’s stock.

About Lithium Americas

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.