229,500 Shares in Lithium Americas Corp. (NYSE:LAC) Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp bought a new position in shares of Lithium Americas Corp. (NYSE:LAC) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 229,500 shares of the company’s stock, valued at approximately $686,000.

Other institutional investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its stake in shares of Lithium Americas by 39.5% during the third quarter. Creative Financial Designs Inc. ADV now owns 13,040 shares of the company’s stock valued at $35,000 after purchasing an additional 3,693 shares in the last quarter. National Bank of Canada FI boosted its stake in Lithium Americas by 13.2% in the third quarter. National Bank of Canada FI now owns 37,129 shares of the company’s stock valued at $100,000 after acquiring an additional 4,340 shares in the last quarter. Allworth Financial LP boosted its stake in Lithium Americas by 99.4% in the fourth quarter. Allworth Financial LP now owns 9,814 shares of the company’s stock valued at $31,000 after acquiring an additional 4,893 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in Lithium Americas by 46.2% in the fourth quarter. Perigon Wealth Management LLC now owns 15,824 shares of the company’s stock valued at $47,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Creative Planning boosted its stake in Lithium Americas by 21.8% in the third quarter. Creative Planning now owns 33,276 shares of the company’s stock valued at $90,000 after acquiring an additional 5,945 shares in the last quarter.

Lithium Americas Price Performance

Shares of Lithium Americas stock opened at $2.96 on Friday. The firm has a fifty day moving average price of $3.12 and a 200 day moving average price of $3.09. Lithium Americas Corp. has a 1 year low of $2.02 and a 1 year high of $7.71. The stock has a market cap of $652.11 million, a PE ratio of -24.63 and a beta of 1.68.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LAC. Cormark upgraded shares of Lithium Americas to a “moderate buy” rating in a research note on Friday, January 17th. Piper Sandler lowered their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Wedbush started coverage on shares of Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.51.

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.