McCarthy Asset Management Inc. Purchases New Stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

McCarthy Asset Management Inc. acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,000 shares of the company’s stock, valued at approximately $49,000.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Lithium Americas (Argentina) by 67.9% in the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after buying an additional 4,000 shares during the last quarter. TD Asset Management Inc increased its stake in shares of Lithium Americas (Argentina) by 3.5% in the second quarter. TD Asset Management Inc now owns 122,775 shares of the company’s stock worth $391,000 after buying an additional 4,173 shares during the last quarter. Old West Investment Management LLC increased its stake in shares of Lithium Americas (Argentina) by 18.2% in the second quarter. Old West Investment Management LLC now owns 33,386 shares of the company’s stock worth $107,000 after buying an additional 5,140 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Lithium Americas (Argentina) by 8.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock worth $216,000 after buying an additional 5,503 shares during the last quarter. Finally, Apollon Wealth Management LLC increased its stake in shares of Lithium Americas (Argentina) by 25.8% in the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock worth $93,000 after buying an additional 5,870 shares during the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LAAC shares. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, Scotiabank decreased their price objective on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.05.

Lithium Americas (Argentina) Stock Performance

Shares of LAAC opened at $3.23 on Tuesday. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $6.69. The company has a market cap of $522.22 million, a price-to-earnings ratio of 0.41 and a beta of 1.31. The firm has a fifty day moving average of $3.37 and a 200-day moving average of $3.20.

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.