Lithium Americas (Argentina) Corp. (NYSE:LAAC) Shares Bought by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 47.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 510,200 shares of the company’s stock after acquiring an additional 163,800 shares during the period. Intact Investment Management Inc.’s holdings in Lithium Americas (Argentina) were worth $1,671,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LAAC. Fifth Third Bancorp raised its holdings in Lithium Americas (Argentina) by 67.9% in the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after buying an additional 4,000 shares during the period. TD Asset Management Inc raised its holdings in Lithium Americas (Argentina) by 3.5% in the second quarter. TD Asset Management Inc now owns 122,775 shares of the company’s stock valued at $391,000 after buying an additional 4,173 shares during the period. Old West Investment Management LLC grew its position in Lithium Americas (Argentina) by 18.2% in the second quarter. Old West Investment Management LLC now owns 33,386 shares of the company’s stock valued at $107,000 after acquiring an additional 5,140 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in Lithium Americas (Argentina) by 8.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock valued at $216,000 after acquiring an additional 5,503 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in Lithium Americas (Argentina) in the second quarter valued at approximately $31,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LAAC. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. Finally, Scotiabank lowered their price objective on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.05.

Lithium Americas (Argentina) Trading Down 3.3 %

LAAC stock opened at $3.50 on Tuesday. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $6.69. The company has a market capitalization of $566.72 million, a P/E ratio of 0.45 and a beta of 1.33. The firm has a 50 day simple moving average of $3.05 and a 200-day simple moving average of $3.52.

Lithium Americas (Argentina) (NYSE:LAAC) last released its quarterly 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, research analysts predict that Lithium Americas will post -0.02 EPS for the current year.

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.