Northwestern Mutual Wealth Management Co. Sells 25,346 Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Northwestern Mutual Wealth Management Co. lowered its stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 69.4% during the second quarter, Holdings Channel reports. The firm owned 11,185 shares of the company’s stock after selling 25,346 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lithium Americas (Argentina) were worth $36,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Scarborough Advisors LLC bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at about $53,000. Mather Group LLC. bought a new position in Lithium Americas (Argentina) in the first quarter valued at approximately $27,000. Teamwork Financial Advisors LLC acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $54,000. Thomist Capital Management LP bought a new stake in Lithium Americas (Argentina) during the first quarter worth $3,249,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at $177,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LAAC shares. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research 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 dropped 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 research note on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.05.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAAC opened at $3.67 on Friday. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $7.30. The firm has a market cap of $591.71 million, a PE ratio of 0.46 and a beta of 1.33. The company has a 50 day simple moving average of $2.72 and a 200 day simple moving average of $3.74.

Lithium Americas (Argentina) (NYSE:LAAC) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02).

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.