Credit Industriel ET Commercial Buys New Stake in Lithium Americas Corp. $LAC

Credit Industriel ET Commercial purchased a new position in shares of Lithium Americas Corp. (NYSE:LAC) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 230,000 shares of the company’s stock, valued at approximately $908,000. Credit Industriel ET Commercial owned about 0.07% of Lithium Americas as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in shares of Lithium Americas by 158.1% during the third quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock worth $82,679,000 after purchasing an additional 8,868,971 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Lithium Americas by 1,188.3% in the 3rd quarter. Millennium Management LLC now owns 3,307,103 shares of the company’s stock worth $18,885,000 after acquiring an additional 3,050,405 shares during the period. Legal & General Group Plc boosted its holdings in shares of Lithium Americas by 212.7% in the fourth quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after acquiring an additional 2,082,891 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Lithium Americas during the fourth quarter worth about $6,055,000. Finally, Kailix Advisors LLC purchased a new position in Lithium Americas during the fourth quarter worth about $5,123,000.

Analyst Ratings Changes

LAC has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Scotia dropped their price objective on shares of Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating for the company in a research note on Monday, May 25th. Wedbush assumed coverage on Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 target price on the stock. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Finally, The Goldman Sachs Group started coverage on Lithium Americas in a research report on Wednesday, July 1st. They set a “neutral” rating and a $4.50 price target for the company. Two equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.44.

Lithium Americas Stock Performance

Shares of NYSE LAC opened at $3.77 on Tuesday. The company has a 50-day simple moving average of $4.75 and a 200-day simple moving average of $4.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 7.36 and a quick ratio of 7.36. The company has a market cap of $1.32 billion, a PE ratio of -9.18 and a beta of 2.47. Lithium Americas Corp. has a 12 month low of $2.47 and a 12 month high of $10.52.

Lithium Americas Company Profile

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.