HITE Hedge Asset Management LLC Buys Shares of 291,499 Lithium Americas Corp. (NYSE:LAC)

HITE Hedge Asset Management LLC acquired a new stake in Lithium Americas Corp. (NYSE:LAC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 291,499 shares of the company’s stock, valued at approximately $787,000.

Several other institutional investors and hedge funds also recently bought and sold shares of LAC. Fairscale Capital LLC bought a new stake in shares of Lithium Americas during the 2nd quarter valued at about $27,000. AE Wealth Management LLC purchased a new position in Lithium Americas in the 2nd quarter worth about $27,000. Evergreen Capital Management LLC bought a new stake in shares of Lithium Americas in the 2nd quarter valued at about $27,000. Quent Capital LLC raised its position in Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Lithium Americas during the 2nd quarter valued at approximately $30,000.

Lithium Americas Price Performance

LAC stock opened at $3.95 on Tuesday. The company’s 50-day moving average price is $3.47 and its two-hundred day moving average price is $3.02. Lithium Americas Corp. has a 12 month low of $2.02 and a 12 month high of $7.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LAC shares. Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Scotiabank dropped their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Finally, B. Riley raised their target price on shares of Lithium Americas from $4.50 to $5.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Lithium Americas presently has an average rating of “Hold” and an average target price of $5.63.

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.