Alberta Investment Management Corp Purchases Shares of 229,500 Lithium Americas Corp. (NYSE:LAC)

Alberta Investment Management Corp acquired a new stake in shares of Lithium Americas Corp. (NYSE:LAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 229,500 shares of the company’s stock, valued at approximately $686,000. Alberta Investment Management Corp owned about 0.10% of Lithium Americas as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP boosted its stake in Lithium Americas by 99.4% during the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock valued at $31,000 after buying an additional 4,893 shares during the last quarter. Quotient Wealth Partners LLC bought a new position in shares of Lithium Americas during the 4th quarter valued at approximately $49,000. Silverlake Wealth Management LLC grew its holdings in shares of Lithium Americas by 35.2% in the fourth quarter. Silverlake Wealth Management LLC now owns 44,405 shares of the company’s stock valued at $132,000 after purchasing an additional 11,553 shares in the last quarter. Perigon Wealth Management LLC increased its position in Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock worth $47,000 after purchasing an additional 5,000 shares during the last quarter. Finally, PFG Investments LLC raised its stake in Lithium Americas by 65.3% during the fourth quarter. PFG Investments LLC now owns 55,301 shares of the company’s stock valued at $164,000 after purchasing an additional 21,840 shares in the last quarter.

Lithium Americas Price Performance

Lithium Americas stock opened at $2.96 on Friday. Lithium Americas Corp. has a 1-year low of $2.02 and a 1-year high of $7.71. The firm has a market capitalization of $652.11 million, a P/E ratio of -24.63 and a beta of 1.68. The company’s 50-day moving average is $3.12 and its 200 day moving average is $3.09.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wedbush initiated coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They issued a “neutral” rating and a $5.00 price objective for the company. B. Riley upped their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research report on Friday, January 17th. Finally, Piper Sandler decreased their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Lithium Americas presently has a consensus rating of “Hold” and a consensus target price of $5.51.

Lithium Americas Profile

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.