Scotia Capital Inc. Sells 192,195 Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Scotia Capital Inc. decreased its position in Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 193,924 shares of the company's stock after selling 192,195 shares during the quarter. Scotia Capital Inc. owned 0.12% of Lithium Americas (Argentina) worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ping Capital Management Inc. grew its stake in Lithium Americas (Argentina) by 36.4% during the fourth quarter. Ping Capital Management Inc. now owns 15,000 shares of the company's stock worth $39,000 after buying an additional 4,000 shares during the last quarter. Robertson Stephens Wealth Management LLC grew its position in Lithium Americas (Argentina) by 33.2% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 36,185 shares of the company's stock worth $95,000 after acquiring an additional 9,017 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the 3rd quarter valued at $40,000. Legal & General Group Plc raised its position in Lithium Americas (Argentina) by 6.1% in the 4th quarter. Legal & General Group Plc now owns 227,215 shares of the company's stock valued at $597,000 after purchasing an additional 13,031 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Lithium Americas (Argentina) by 177.9% in the fourth quarter. Jones Financial Companies Lllp now owns 20,694 shares of the company's stock worth $54,000 after purchasing an additional 13,247 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company's stock.

Analysts Set New Price Targets

Separately, Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a report on Monday, January 20th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) presently has a consensus rating of "Moderate Buy" and an average price target of $7.42.

Lithium Americas (Argentina) Stock Performance

LAAC traded down $0.02 during mid-day trading on Friday, reaching $2.04. The stock had a trading volume of 735,882 shares, compared to its average volume of 1,355,315. The stock has a market capitalization of $330.34 million, a P/E ratio of 0.26 and a beta of 1.35. Lithium Americas has a 52 week low of $2.07 and a 52 week high of $5.60. The firm's fifty day simple moving average is $2.23 and its two-hundred day simple moving average is $2.80.

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.