Lithium Americas (Argentina) Corp. (NYSE:LAAC) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. cut its stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 28.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 609,780 shares of the company's stock after selling 237,264 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.38% of Lithium Americas (Argentina) worth $1,951,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of LAAC. Mather Group LLC. purchased a new position in Lithium Americas (Argentina) during the first quarter worth about $27,000. Fairscale Capital LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth about $31,000. Fifth Third Bancorp lifted its stake in Lithium Americas (Argentina) by 67.9% during the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock worth $32,000 after acquiring an additional 4,000 shares in the last quarter. Ping Capital Management Inc. acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth about $35,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth about $36,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LAAC has been the topic of several research reports. National Bankshares set a $6.00 target price on Lithium Americas (Argentina) and gave the stock a "sector perform" rating in a research note on Thursday, June 6th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. Scotiabank cut their price target on Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating on the stock in a report on Thursday, August 15th. Finally, HSBC upgraded Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $8.21.

Lithium Americas (Argentina) Price Performance

Shares of LAAC traded up $0.16 during mid-day trading on Friday, reaching $3.24. The company's stock had a trading volume of 2,069,689 shares, compared to its average volume of 1,471,799. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $8.14. The stock has a market cap of $522.39 million, a PE ratio of 0.38 and a beta of 1.32. The company's 50 day moving average is $2.66 and its 200 day moving average is $3.81.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02).

About Lithium Americas (Argentina)

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.