Johnson Investment Counsel Inc. Purchases New Position in Lithium Americas Corp. (NYSE:LAC)

Johnson Investment Counsel Inc. purchased a new stake in shares of Lithium Americas Corp. (NYSE:LAC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,728 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors also recently modified their holdings of LAC. Banque Cantonale Vaudoise purchased a new stake in shares of Lithium Americas during the 1st quarter valued at approximately $25,000. Mather Group LLC. purchased a new stake in Lithium Americas in the 1st quarter worth approximately $26,000. International Assets Investment Management LLC purchased a new stake in Lithium Americas in the 2nd quarter worth approximately $30,000. Wedbush Securities Inc. purchased a new stake in Lithium Americas in the 2nd quarter worth approximately $32,000. Finally, Cowen AND Company LLC lifted its stake in Lithium Americas by 50.0% in the 2nd quarter. Cowen AND Company LLC now owns 15,000 shares of the company’s stock worth $40,000 after purchasing an additional 5,000 shares in the last quarter.

Lithium Americas Price Performance

Shares of Lithium Americas stock opened at $2.39 on Monday. The company’s fifty day simple moving average is $2.55 and its two-hundred day simple moving average is $3.92. Lithium Americas Corp. has a 12-month low of $2.02 and a 12-month high of $12.38.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, equities analysts forecast that Lithium Americas Corp. will post -0.1 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on LAC shares. National Bank Financial upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Scotiabank lowered their price objective on shares of Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. Piper Sandler began coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective on the stock. Finally, B. Riley reduced their target price on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.61.

Lithium Americas Company 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.