Counterpoint Mutual Funds LLC Invests $543,000 in Lithium Americas (Argentina) Corp. $LAR

Counterpoint Mutual Funds LLC bought a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 81,261 shares of the company’s stock, valued at approximately $543,000. Counterpoint Mutual Funds LLC owned about 0.05% of Lithium Americas (Argentina) as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LAR. Royal Bank of Canada purchased a new position in Lithium Americas (Argentina) in the 1st quarter worth about $572,000. Goldman Sachs Group Inc. acquired a new stake in Lithium Americas (Argentina) during the 1st quarter worth about $1,064,000. Woodline Partners LP purchased a new stake in Lithium Americas (Argentina) during the first quarter valued at about $3,456,000. JPMorgan Chase & Co. purchased a new stake in Lithium Americas (Argentina) during the second quarter valued at about $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after buying an additional 3,575 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $7.97 on Friday. The stock has a 50-day moving average price of $9.52 and a 200 day moving average price of $7.90. Lithium Americas has a 1 year low of $2.22 and a 1 year high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). On average, equities analysts forecast that Lithium Americas will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. TD Securities lifted their target price on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Zacks Research lowered shares of Lithium Americas (Argentina) from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Scotiabank upped their price target on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. Finally, Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $8.13.

Lithium Americas (Argentina) Company 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.