Commonwealth Equity Services LLC Boosts Holdings in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Commonwealth Equity Services LLC lifted its stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 59.8% in the fourth quarter, HoldingsChannel reports. The firm owned 38,425 shares of the company’s stock after acquiring an additional 14,377 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Lithium Americas (Argentina) were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LAAC. Virtu Financial LLC purchased a new position in shares of Lithium Americas (Argentina) in the 3rd quarter valued at about $317,000. Tidal Investments LLC lifted its stake in shares of Lithium Americas (Argentina) by 37.1% in the 3rd quarter. Tidal Investments LLC now owns 350,534 shares of the company’s stock worth $1,143,000 after acquiring an additional 94,775 shares during the period. Alberta Investment Management Corp acquired a new stake in Lithium Americas (Argentina) in the fourth quarter valued at about $240,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Lithium Americas (Argentina) in the third quarter valued at approximately $120,000. Finally, Financial Advocates Investment Management purchased a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth $93,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Monday, January 20th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.42.

Lithium Americas (Argentina) Stock Down 2.0 %

NYSE LAAC opened at $1.99 on Friday. The business has a fifty day moving average of $2.28 and a 200-day moving average of $2.84. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $5.68. The stock has a market cap of $322.24 million, a price-to-earnings ratio of 0.26 and a beta of 1.35.

Lithium Americas (Argentina) 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.