CenterBook Partners LP Grows Stock Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

CenterBook Partners LP boosted its position in Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 20.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,096,302 shares of the company's stock after purchasing an additional 516,311 shares during the quarter. CenterBook Partners LP owned about 1.91% of Lithium Americas (Argentina) worth $8,112,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at $62,000. Renaissance Technologies LLC acquired a new position in shares of Lithium Americas (Argentina) during the 4th quarter valued at about $149,000. Legal & General Group Plc lifted its holdings in shares of Lithium Americas (Argentina) by 6.1% during the 4th quarter. Legal & General Group Plc now owns 227,215 shares of the company's stock worth $597,000 after acquiring an additional 13,031 shares during the period. Wells Fargo & Company MN grew its holdings in Lithium Americas (Argentina) by 67.8% in the fourth quarter. Wells Fargo & Company MN now owns 221,772 shares of the company's stock valued at $581,000 after purchasing an additional 89,591 shares during the period. Finally, American Century Companies Inc. increased its position in Lithium Americas (Argentina) by 439.3% during the fourth quarter. American Century Companies Inc. now owns 103,603 shares of the company's stock worth $272,000 after purchasing an additional 84,391 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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Lithium Americas (Argentina) Stock Performance

LAAC traded up $0.09 on Monday, reaching $2.08. 661,629 shares of the company's stock were exchanged, compared to its average volume of 1,354,905. The company has a market cap of $336.82 million, a price-to-earnings ratio of 0.27 and a beta of 1.35. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $5.60. The company's 50 day moving average is $2.28 and its 200-day moving average is $2.84.

Analysts Set New Price Targets

Separately, Cormark raised shares of Lithium Americas (Argentina) to a "moderate buy" rating in a research note on Monday, January 20th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Lithium Americas (Argentina) has a consensus rating of "Moderate Buy" and an average target price of $7.42.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.