Van ECK Associates Corp cut its stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,934,634 shares of the company's stock after selling 106,731 shares during the quarter. Van ECK Associates Corp owned about 1.81% of Lithium Americas (Argentina) worth $7,688,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. General Motors Holdings LLC acquired a new stake in Lithium Americas (Argentina) during the 3rd quarter valued at $48,907,000. Intact Investment Management Inc. increased its position in shares of Lithium Americas (Argentina) by 47.3% during the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company's stock worth $1,671,000 after acquiring an additional 163,800 shares during the last quarter. Barclays PLC lifted its stake in shares of Lithium Americas (Argentina) by 30.1% in the third quarter. Barclays PLC now owns 92,438 shares of the company's stock worth $301,000 after acquiring an additional 21,388 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lithium Americas (Argentina) by 37.1% in the third quarter. Geode Capital Management LLC now owns 65,252 shares of the company's stock valued at $214,000 after purchasing an additional 17,649 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the 3rd quarter valued at approximately $40,000. 49.17% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Cormark upgraded Lithium Americas (Argentina) to a "moderate buy" rating in a research note on Monday, January 20th. Three 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.com, Lithium Americas (Argentina) has a consensus rating of "Moderate Buy" and a consensus price target of $7.19.
Get Our Latest Analysis on Lithium Americas (Argentina)
Lithium Americas (Argentina) Stock Down 3.4 %
Shares of LAAC traded down $0.09 during mid-day trading on Friday, hitting $2.55. The stock had a trading volume of 577,609 shares, compared to its average volume of 914,281. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $5.79. The company has a market cap of $412.93 million, a PE ratio of 0.33 and a beta of 1.35. The company's fifty day simple moving average is $2.76 and its two-hundred day simple moving average is $2.93.
Lithium Americas (Argentina) Profile
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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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