ABN Amro Investment Solutions Takes $6.33 Million Position in Lithium Americas (Argentina) Corp. $LAR

ABN Amro Investment Solutions bought a new position in Lithium Americas (Argentina) Corp. (NYSE:LAR) during the 1st quarter, Holdings Channel reports. The fund bought 948,297 shares of the company’s stock, valued at approximately $6,335,000.

A number of other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in Lithium Americas (Argentina) during the second quarter valued at approximately $37,000. BNP Paribas Financial Markets grew its holdings in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after buying an additional 5,900 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Lithium Americas (Argentina) in the 2nd quarter worth approximately $40,000. Finally, Raymond James Financial Inc. increased its stake in Lithium Americas (Argentina) by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after acquiring an additional 3,214 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAR opened at $6.37 on Thursday. Lithium Americas has a 1-year low of $2.52 and a 1-year high of $12.05. The business’s 50 day moving average is $8.59 and its two-hundred day moving average is $8.07.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, research analysts predict that Lithium Americas will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LAR shares. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Scotiabank boosted their price target on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock 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 Thursday, July 2nd. 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 equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.