BNP Paribas Financial Markets Buys 1,127,964 Shares of Lithium Americas Corp. $LAC

BNP Paribas Financial Markets grew its stake in Lithium Americas Corp. (NYSE:LAC) by 320.7% during the 4th quarter, HoldingsChannel reports. The firm owned 1,479,668 shares of the company’s stock after acquiring an additional 1,127,964 shares during the quarter. BNP Paribas Financial Markets’ holdings in Lithium Americas were worth $6,451,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LAC. Quarry LP acquired a new position in Lithium Americas in the third quarter valued at about $28,000. IFP Advisors Inc grew its position 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 acquiring an additional 6,016 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Lithium Americas during the 3rd quarter worth approximately $60,000. Walleye Capital LLC bought a new stake in Lithium Americas during the 2nd quarter worth approximately $28,000. Finally, IHT Wealth Management LLC bought a new stake in Lithium Americas during the 2nd quarter worth approximately $28,000.

Lithium Americas Stock Down 4.7%

Shares of NYSE LAC opened at $4.35 on Wednesday. The firm has a market capitalization of $1.53 billion, a PE ratio of -10.60 and a beta of 2.31. The company has a current ratio of 7.36, a quick ratio of 7.36 and a debt-to-equity ratio of 0.65. Lithium Americas Corp. has a 1 year low of $2.47 and a 1 year high of $10.52. The firm’s 50-day moving average is $4.84 and its 200-day moving average is $4.92.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Lithium Americas from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas in a research report on Monday, April 27th. Jefferies Financial Group restated a “buy” rating on shares of Lithium Americas in a research report on Monday, February 23rd. 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 report on Monday, April 6th. Finally, 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 report on Monday, May 25th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.56.

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.