Intact Investment Management Inc. Takes $1.74 Million Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Intact Investment Management Inc. bought a new position in Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the 4th quarter, HoldingsChannel.com reports. The firm bought 276,600 shares of the company’s stock, valued at approximately $1,743,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP bought a new position in Lithium Americas (Argentina) in the fourth quarter worth $32,000. Quent Capital LLC bought a new position in Lithium Americas (Argentina) in the fourth quarter worth $34,000. Fifth Third Bancorp bought a new position in Lithium Americas (Argentina) in the fourth quarter worth $53,000. FNY Investment Advisers LLC bought a new position in Lithium Americas (Argentina) in the fourth quarter worth $62,000. Finally, International Assets Investment Management LLC bought a new position in Lithium Americas (Argentina) in the fourth quarter worth $69,000. 49.17% of the stock is owned by institutional investors.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAAC traded up $0.36 during midday trading on Friday, reaching $5.25. The company’s stock had a trading volume of 1,267,543 shares, compared to its average volume of 1,183,482. Lithium Americas has a fifty-two week low of $3.84 and a fifty-two week high of $8.79. The company has a market capitalization of $844.04 million, a P/E ratio of 0.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. The business’s fifty day simple moving average is $4.98 and its 200-day simple moving average is $5.37.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. As a group, equities research analysts expect that Lithium Americas will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on LAAC shares. BMO Capital Markets cut their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price objective for the company in a report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft cut Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and cut their price objective for the company from $9.00 to $6.50 in a report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and a consensus price target of $10.70.

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.