Fairscale Capital LLC Buys New Position in Lithium Americas Corp. (NYSE:LAC)

Fairscale Capital LLC purchased a new position in shares of Lithium Americas Corp. (NYSE:LAC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 9,976 shares of the company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in shares of Lithium Americas during the first quarter worth $25,000. Mather Group LLC. acquired a new stake in Lithium Americas during the 1st quarter worth about $26,000. Cowen AND Company LLC raised its position in shares of 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 acquiring an additional 5,000 shares in the last quarter. Quent Capital LLC acquired a new position in shares of Lithium Americas in the 1st quarter valued at about $48,000. Finally, Headlands Technologies LLC boosted its position in shares of Lithium Americas by 2,332.3% during the 1st quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock valued at $52,000 after purchasing an additional 7,370 shares in the last quarter.

Lithium Americas Stock Down 4.6 %

Shares of NYSE LAC opened at $2.29 on Monday. Lithium Americas Corp. has a fifty-two week low of $2.02 and a fifty-two week high of $12.38. The firm’s 50-day simple moving average is $2.52 and its 200 day simple moving average is $3.82.

Lithium Americas (NYSE:LAC) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Sell-side analysts forecast that Lithium Americas Corp. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a 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 target price on the stock. B. Riley reduced their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Scotiabank dropped 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 report on Thursday, August 15th. Finally, National Bank Financial upgraded Lithium Americas to a “hold” rating in a research note on Wednesday, June 5th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.