906,652 Shares in Lithium Americas (Argentina) Corp. (NYSE:LAAC) Purchased by RWC Asset Management LLP

RWC Asset Management LLP bought a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 906,652 shares of the company’s stock, valued at approximately $5,741,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $15,303,000. Panview Asian Equity Master Fund purchased a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $5,584,000. Intact Investment Management Inc. purchased a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $1,743,000. Russell Investments Group Ltd. purchased a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $1,181,000. Finally, Mackenzie Financial Corp purchased a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $363,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LAAC has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft downgraded Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and lowered their price target for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Trading Up 7.4 %

Lithium Americas (Argentina) stock traded up $0.36 during trading on Friday, reaching $5.25. 1,267,543 shares of the company were exchanged, compared to its average volume of 1,183,482. Lithium Americas has a 52-week low of $3.84 and a 52-week high of $8.79. The company has a market capitalization of $844.04 million, a P/E ratio of 0.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. The stock’s 50 day simple moving average is $4.98 and its two-hundred day simple moving average is $5.39.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. On average, equities research analysts expect that Lithium Americas will post 0.42 earnings per share for the current fiscal year.

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.