Wolverine Asset Management LLC Boosts Stake in Lithium Americas Corp. (NYSE:LAC)

Wolverine Asset Management LLC increased its holdings in Lithium Americas Corp. (NYSE:LAC) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 278,622 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Wolverine Asset Management LLC owned 0.13% of Lithium Americas worth $752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Lithium Americas in the first quarter worth approximately $202,000. SG Americas Securities LLC acquired a new stake in shares of Lithium Americas during the 1st quarter worth approximately $69,000. Headlands Technologies LLC raised its holdings in Lithium Americas by 2,332.3% in the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock worth $52,000 after purchasing an additional 7,370 shares during the period. Fortis Capital Advisors LLC acquired a new stake in shares of Lithium Americas in the first quarter valued at about $216,000. Finally, SageView Advisory Group LLC purchased a new position in Lithium Americas in the 1st quarter valued at $190,000.

Lithium Americas Stock Down 3.1 %

Lithium Americas stock opened at $4.10 on Wednesday. The stock has a market capitalization of $904.75 million and a PE ratio of -34.17. Lithium Americas Corp. has a twelve month low of $2.02 and a twelve month high of $7.86. The company has a 50 day moving average of $2.99 and a 200-day moving average of $3.08.

Lithium Americas (NYSE:LAC) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Equities analysts anticipate that Lithium Americas Corp. will post -0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Scotiabank decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. B. Riley lifted their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler assumed coverage on shares of Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Lithium Americas currently has a consensus rating of “Hold” and a consensus target price of $5.63.

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.