Lithium Americas (Argentina) (NYSE:LAAC) Trading Up 8.4% – Here’s What Happened

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price rose 8.4% during trading on Monday . The company traded as high as $3.10 and last traded at $3.10. Approximately 696,221 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,045,211 shares. The stock had previously closed at $2.86.

Lithium Americas (Argentina) Stock Down 2.3 %

The stock has a market cap of $485.79 million, a P/E ratio of 0.39 and a beta of 1.35. The company has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.02.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently added to or reduced their stakes in the company. General Motors Holdings LLC bought a new position in shares of Lithium Americas (Argentina) during the third quarter valued at about $48,907,000. William Blair Investment Management LLC bought a new position in Lithium Americas (Argentina) during the 2nd quarter valued at approximately $10,465,000. Van ECK Associates Corp raised its position in Lithium Americas (Argentina) by 16.3% during the 3rd 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 last quarter. M&G PLC lifted its holdings in Lithium Americas (Argentina) by 11.2% in the 3rd quarter. M&G PLC now owns 1,530,176 shares of the company’s stock worth $4,591,000 after buying an additional 154,067 shares during the period. Finally, Decade Renewable Partners LP grew its position in shares of Lithium Americas (Argentina) by 102.7% in the 2nd quarter. Decade Renewable Partners LP now owns 547,625 shares of the company’s stock worth $1,752,000 after buying an additional 277,500 shares during the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.