Lithium Americas (Argentina) Corp. $LAR Shares Sold by M&G PLC

M&G PLC decreased its holdings in Lithium Americas (Argentina) Corp. (NYSE:LAR) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,249,261 shares of the company’s stock after selling 207,915 shares during the quarter. M&G PLC owned 0.77% of Lithium Americas (Argentina) worth $4,173,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in LAR. Stratos Wealth Advisors LLC purchased a new position in Lithium Americas (Argentina) in the 2nd quarter valued at approximately $28,000. JPMorgan Chase & Co. purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter worth $37,000. Sage Investment Counsel LLC acquired a new stake in shares of Lithium Americas (Argentina) in the third quarter valued at $38,000. Diversify Advisory Services LLC purchased a new position in Lithium Americas (Argentina) in the second quarter valued at $40,000. Finally, Raymond James Financial Inc. grew its stake in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after purchasing an additional 3,214 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

Lithium Americas (Argentina) stock opened at $6.80 on Wednesday. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $8.80. The stock has a 50-day simple moving average of $6.67 and a 200-day simple moving average of $4.93.

Analyst Ratings Changes

A number of research analysts recently issued reports on LAR shares. TD Securities upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, February 9th. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. National Bank Financial boosted their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their price target for the company from $4.75 to $9.60 in a research note on Monday, January 19th. Finally, Stifel Nicolaus upped their price objective on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and a consensus price target of $7.44.

Lithium Americas (Argentina) Profile

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.