Point72 Asset Management L.P. Has $801,000 Stock Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Point72 Asset Management L.P. lessened its holdings in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 59.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 245,630 shares of the company's stock after selling 364,150 shares during the quarter. Point72 Asset Management L.P. owned 0.15% of Lithium Americas (Argentina) worth $801,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock worth $32,000 after buying an additional 4,000 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Lithium Americas (Argentina) by 3.5% in the 2nd quarter. TD Asset Management Inc now owns 122,775 shares of the company's stock worth $391,000 after purchasing an additional 4,173 shares during the last quarter. Old West Investment Management LLC boosted its position in Lithium Americas (Argentina) by 18.2% during the 2nd quarter. Old West Investment Management LLC now owns 33,386 shares of the company's stock valued at $107,000 after purchasing an additional 5,140 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in Lithium Americas (Argentina) by 8.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company's stock worth $216,000 after buying an additional 5,503 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its position in Lithium Americas (Argentina) by 25.8% in the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company's stock worth $93,000 after buying an additional 5,870 shares during the period. Institutional investors own 49.17% of the company's stock.

Lithium Americas (Argentina) Stock Up 3.8 %

Shares of LAAC traded up $0.11 during mid-day trading on Thursday, hitting $3.16. 1,671,092 shares of the company's stock were exchanged, compared to its average volume of 1,492,135. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $6.69. The firm has a fifty day moving average of $3.36 and a two-hundred day moving average of $3.19. The stock has a market cap of $510.89 million, a price-to-earnings ratio of 0.41 and a beta of 1.31.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LAAC shares. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. HSBC raised shares of Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research note on Wednesday, August 14th. Finally, Scotiabank cut their target price on shares of 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. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.05.

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.