15,002,245 Shares in Lithium Americas (Argentina) Corp. (NYSE:LAAC) Purchased by General Motors Holdings LLC

General Motors Holdings LLC purchased a new position in Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,002,245 shares of the company's stock, valued at approximately $48,907,000. Lithium Americas (Argentina) makes up 37.4% of General Motors Holdings LLC's holdings, making the stock its biggest position. General Motors Holdings LLC owned approximately 9.27% of Lithium Americas (Argentina) as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Fairscale Capital LLC purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at $31,000. Fifth Third Bancorp boosted its stake in shares of Lithium Americas (Argentina) by 67.9% in the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock worth $32,000 after acquiring an additional 4,000 shares during the period. Ping Capital Management Inc. bought a new position in shares of Lithium Americas (Argentina) in the second quarter worth about $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter worth about $36,000. Finally, Legacy Capital Group California Inc. bought a new stake in Lithium Americas (Argentina) during the 3rd quarter valued at approximately $36,000. Institutional investors own 49.17% of the company's stock.

Wall Street Analysts Forecast Growth

LAAC has been the subject of a number of research analyst reports. Scotiabank cut their price objective on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating for the company in a report on Thursday, August 15th. HSBC upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Finally, Hsbc Global Res raised shares of Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $7.05.

Lithium Americas (Argentina) Stock Down 0.3 %

Lithium Americas (Argentina) stock traded down $0.01 during mid-day trading on Friday, reaching $3.24. 1,486,588 shares of the company's stock traded hands, compared to its average volume of 1,833,922. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $6.69. The company has a market cap of $524.61 million, a price-to-earnings ratio of 0.42 and a beta of 1.33. The stock has a 50 day moving average of $3.11 and a two-hundred day moving average of $3.49.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). As a group, sell-side analysts forecast that Lithium Americas will post -0.02 earnings per share for the current year.

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.