Intact Investment Management Inc. Boosts Holdings in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Intact Investment Management Inc. grew its holdings in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 47.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 510,200 shares of the company’s stock after purchasing an additional 163,800 shares during the quarter. Intact Investment Management Inc. owned 0.32% of Lithium Americas (Argentina) worth $1,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp boosted its stake in shares of Lithium Americas (Argentina) by 16.3% in the third quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock valued at $10,615,000 after purchasing an additional 426,419 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Lithium Americas (Argentina) by 31.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 347,933 shares of the company’s stock worth $1,134,000 after acquiring an additional 83,560 shares during the last quarter. Legacy Capital Group California Inc. purchased a new position in Lithium Americas (Argentina) in the third quarter worth approximately $36,000. Sterling Investment Counsel LLC purchased a new position in Lithium Americas (Argentina) in the third quarter worth approximately $90,000. Finally, Cubist Systematic Strategies LLC purchased a new position in Lithium Americas (Argentina) in the second quarter worth approximately $102,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Analysts Set New Price Targets

LAAC has been the subject of a number of recent research reports. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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’s 50 day moving average is $3.05 and its two-hundred day moving average is $3.52. The stock has a market cap of $566.72 million, a P/E ratio of 0.45 and a beta of 1.33.

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

Lithium Americas (Argentina) 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.