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

CIBC Asset Management Inc purchased a new stake in Lithium Americas Corp. (NYSE:LAC) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 235,588 shares of the company’s stock, valued at approximately $1,025,000. CIBC Asset Management Inc owned about 0.08% of Lithium Americas as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of Lithium Americas by 158.1% in the 3rd quarter. Van ECK Associates Corp now owns 14,479,615 shares of the company’s stock valued at $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 valued at $18,885,000 after purchasing an additional 3,050,405 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Lithium Americas by 212.7% in the 4th quarter. Legal & General Group Plc now owns 3,062,306 shares of the company’s stock valued at $13,349,000 after purchasing an additional 2,082,891 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Lithium Americas by 1.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,755,404 shares of the company’s stock valued at $7,350,000 after purchasing an additional 45,941 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Lithium Americas by 44.3% in the 3rd quarter. Invesco Ltd. now owns 2,405,568 shares of the company’s stock valued at $13,736,000 after purchasing an additional 739,007 shares during the last quarter.

Lithium Americas Price Performance

LAC opened at $4.56 on Tuesday. The stock’s 50-day moving average price is $4.83 and its 200 day moving average price is $4.92. Lithium Americas Corp. has a 12-month low of $2.47 and a 12-month high of $10.52. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -11.11 and a beta of 2.32.

Lithium Americas (NYSE:LAC) last posted its earnings results on Thursday, May 14th. The company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.07. As a group, sell-side analysts expect that Lithium Americas Corp. will post -0.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

LAC has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas in a research note on Monday, April 27th. Wedbush initiated coverage on Lithium Americas in a research note on Monday, April 20th. They issued a “neutral” rating and a $8.00 price target on the stock. Scotia decreased their price target on Lithium Americas from $5.00 to $4.50 and set a “sector perform” rating on the stock in a research note on Monday, May 25th. TD Securities raised Lithium Americas to a “hold” rating in a research note on Monday, February 9th. Finally, Scotiabank decreased their price target on Lithium Americas from $7.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Monday, April 6th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.56.

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.