Point72 Asset Management L.P. Has $801,000 Stock Holdings in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Point72 Asset Management L.P. reduced its position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 59.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 245,630 shares of the company’s stock after selling 364,150 shares during the quarter. Point72 Asset Management L.P.’s holdings in Lithium Americas (Argentina) were worth $801,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairscale Capital LLC acquired a new position in shares of Lithium Americas (Argentina) during the second quarter valued at about $31,000. Fifth Third Bancorp lifted its position in Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after acquiring an additional 4,000 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter valued at about $36,000. Legacy Capital Group California Inc. bought a new stake in Lithium Americas (Argentina) during the 3rd quarter worth approximately $36,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in shares of Lithium Americas (Argentina) in the second quarter worth approximately $44,000. Institutional investors own 49.17% of the company’s stock.

Wall Street Analyst Weigh In

LAAC has been the subject of several recent research reports. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Scotiabank cut their price objective on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.05.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAAC opened at $3.05 on Thursday. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $6.69. The company has a market capitalization of $493.08 million, a PE ratio of 0.39 and a beta of 1.31. The business has a fifty day moving average price of $3.36 and a two-hundred day moving average price of $3.19.

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.