Van ECK Associates Corp Purchases Shares of 2,494,286 Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Van ECK Associates Corp acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,494,286 shares of the company’s stock, valued at approximately $15,763,000. Van ECK Associates Corp owned 1.55% of Lithium Americas (Argentina) as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dynamic Advisor Solutions LLC purchased a new stake in Lithium Americas (Argentina) during the fourth quarter valued at about $281,000. FNY Investment Advisers LLC purchased a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $62,000. Mutual Advisors LLC purchased a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $306,000. Quent Capital LLC purchased a new stake in Lithium Americas (Argentina) during the fourth quarter worth approximately $34,000. Finally, Fifth Third Bancorp purchased a new stake in Lithium Americas (Argentina) during the fourth quarter worth approximately $53,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $5.07 on Thursday. The stock has a market capitalization of $816.78 million, a price-to-earnings ratio of 0.63 and a beta of 1.33. Lithium Americas has a twelve month low of $3.84 and a twelve month high of $8.79. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $5.04 and its 200-day simple moving average is $5.33.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. Equities research analysts forecast that Lithium Americas will post 0.42 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented 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 on the stock in a research report on Friday, March 22nd. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price on the stock in a report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and reduced their price target for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average 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.