CIBC Asset Management Inc Makes New $1.03 Million Investment in Lithium Americas Corp. $LAC

CIBC Asset Management Inc purchased a new position in shares of Lithium Americas Corp. (NYSE:LAC) during the 4th quarter, HoldingsChannel reports. The firm purchased 235,588 shares of the company’s stock, valued at approximately $1,025,000.

Several other large investors also recently bought and sold shares of LAC. IFP Advisors Inc increased its holdings in Lithium Americas by 1,253.3% during the 4th quarter. IFP Advisors Inc now owns 6,496 shares of the company’s stock worth $28,000 after purchasing an additional 6,016 shares during the period. Quarry LP purchased a new stake in Lithium Americas during the 3rd quarter worth about $28,000. Walleye Capital LLC purchased a new stake in Lithium Americas during the 2nd quarter worth about $28,000. IHT Wealth Management LLC purchased a new stake in Lithium Americas during the 2nd quarter worth about $28,000. Finally, Heck Capital Advisors LLC purchased a new stake in Lithium Americas during the 4th quarter worth about $51,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LAC shares. Scotia cut their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a report on Monday, May 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a report on Monday, April 27th. Wedbush initiated coverage on Lithium Americas in a report on Monday, April 20th. They issued a “neutral” rating and a $8.00 price objective on the stock. Scotiabank dropped their price objective on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a report on Monday, April 6th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Lithium Americas in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas has an average rating of “Hold” and an average price target of $5.56.

Lithium Americas Trading Up 0.6%

LAC opened at $4.56 on Tuesday. Lithium Americas Corp. has a one year low of $2.47 and a one year high of $10.52. The company has a market cap of $1.60 billion, a P/E ratio of -11.11 and a beta of 2.32. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.36 and a current ratio of 7.36. The business’s 50-day simple moving average is $4.83 and its 200-day simple moving average is $4.92.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.07. As a group, equities research analysts expect that Lithium Americas Corp. will post -0.14 EPS for the current fiscal year.

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.