Point72 Asset Management L.P. Sells 406,993 Shares of Lithium Americas Corp. (NYSE:LAC)

Point72 Asset Management L.P. lowered its holdings in Lithium Americas Corp. (NYSE:LAC) by 21.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,450,200 shares of the company’s stock after selling 406,993 shares during the quarter. Point72 Asset Management L.P.’s holdings in Lithium Americas were worth $3,916,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Fairscale Capital LLC purchased a new stake in Lithium Americas in the second quarter valued at approximately $27,000. AE Wealth Management LLC bought a new position in shares of Lithium Americas in the 2nd quarter worth $27,000. Evergreen Capital Management LLC bought a new stake in shares of Lithium Americas during the 2nd quarter worth $27,000. Quent Capital LLC grew its position in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after acquiring an additional 5,000 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Lithium Americas in the second quarter valued at $30,000.

Lithium Americas Stock Down 1.4 %

Shares of LAC opened at $3.48 on Monday. The stock has a market capitalization of $767.97 million and a P/E ratio of -29.00. Lithium Americas Corp. has a twelve month low of $2.02 and a twelve month high of $7.71. The firm has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $3.00.

Analysts Set New Price Targets

LAC has been the topic of several recent research reports. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday, October 18th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Friday, August 16th. Finally, B. Riley lifted 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.63.

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.