Financial Advocates Investment Management Makes New $93,000 Investment in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Financial Advocates Investment Management purchased 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 institutional investor purchased 35,598 shares of the company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAAC. General Motors Holdings LLC bought a new position in shares of Lithium Americas (Argentina) in the third quarter valued at about $48,907,000. Van ECK Associates Corp raised its position in shares of Lithium Americas (Argentina) by 16.3% in the third quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock valued at $10,615,000 after purchasing an additional 426,419 shares during the period. Intact Investment Management Inc. raised its position in shares of Lithium Americas (Argentina) by 47.3% in the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock valued at $1,671,000 after purchasing an additional 163,800 shares during the period. M&G PLC raised its position in shares of Lithium Americas (Argentina) by 11.2% in the third quarter. M&G PLC now owns 1,530,176 shares of the company’s stock valued at $4,591,000 after purchasing an additional 154,067 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Lithium Americas (Argentina) in the third quarter valued at about $317,000. 49.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research report on Monday, January 20th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.19.

Lithium Americas (Argentina) Stock Performance

NYSE:LAAC opened at $2.50 on Tuesday. Lithium Americas has a 52 week low of $2.07 and a 52 week high of $5.79. The firm has a market cap of $404.83 million, a price-to-earnings ratio of 0.32 and a beta of 1.35. The firm’s 50-day simple moving average is $2.87 and its 200 day simple moving average is $2.95.

About Lithium Americas (Argentina)

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.