Van ECK Associates Corp raised its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 16.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,041,365 shares of the company's stock after purchasing an additional 426,419 shares during the period. Van ECK Associates Corp owned approximately 1.89% of Lithium Americas (Argentina) worth $10,615,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. General Motors Holdings LLC bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at about $80,862,000. Vanguard Group Inc. lifted its position in shares of Lithium Americas (Argentina) by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company's stock worth $19,191,000 after buying an additional 21,456 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth approximately $10,465,000. M&G Plc grew its holdings in shares of Lithium Americas (Argentina) by 15.8% in the second quarter. M&G Plc now owns 1,376,109 shares of the company's stock valued at $4,128,000 after acquiring an additional 187,391 shares in the last quarter. Finally, Decade Renewable Partners LP grew its holdings in shares of Lithium Americas (Argentina) by 102.7% in the second quarter. Decade Renewable Partners LP now owns 547,625 shares of the company's stock valued at $1,752,000 after acquiring an additional 277,500 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on LAAC shares. Hsbc Global Res upgraded Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. Scotiabank lowered their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating on the stock in a research note on Thursday, August 15th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $7.05.
Get Our Latest Report on LAAC
Lithium Americas (Argentina) Trading Down 2.7 %
Shares of LAAC stock traded down $0.09 on Thursday, hitting $3.25. 1,308,474 shares of the stock were exchanged, compared to its average volume of 1,523,307. The firm's 50 day moving average is $3.09 and its two-hundred day moving average is $3.51. Lithium Americas has a one year low of $2.07 and a one year high of $6.69. The firm has a market capitalization of $526.24 million, a PE ratio of 0.41 and a beta of 1.33.
Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02). On average, sell-side analysts expect that Lithium Americas will post -0.02 earnings per share for the current year.
About Lithium Americas (Argentina)
(
Free Report)
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.
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