194,000 Shares in Lithium Americas Corp. (NYSE:LAC) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC purchased a new position in shares of Lithium Americas Corp. (NYSE:LAC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 194,000 shares of the company’s stock, valued at approximately $520,000.

Several other hedge funds have also recently modified their holdings of the stock. Banque Cantonale Vaudoise purchased a new position in Lithium Americas in the first quarter worth $25,000. Mather Group LLC. purchased a new position in Lithium Americas in the first quarter worth $26,000. International Assets Investment Management LLC purchased a new position in Lithium Americas in the second quarter worth $30,000. Wedbush Securities Inc. purchased a new position in Lithium Americas in the second quarter worth $32,000. Finally, Johnson Investment Counsel Inc. purchased a new position in Lithium Americas in the second quarter worth $37,000.

Lithium Americas Price Performance

Shares of LAC stock opened at $2.70 on Thursday. The firm has a 50-day moving average price of $2.47 and a 200 day moving average price of $3.54. Lithium Americas Corp. has a twelve month low of $2.02 and a twelve month high of $11.19.

Lithium Americas (NYSE:LAC) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities analysts predict that Lithium Americas Corp. will post -0.09 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler initiated coverage on Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective for the company. Deutsche Bank Aktiengesellschaft cut their price target on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Scotiabank cut their price target on Lithium Americas from $5.50 to $3.00 and set a “sector perform” rating for the company in a research note on Thursday, August 15th. Finally, B. Riley cut their price target on Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.56.

About Lithium Americas

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.