D.A. Davidson & CO. Reduces Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

D.A. Davidson & CO. trimmed its holdings in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 14.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,950 shares of the company’s stock after selling 5,680 shares during the quarter. D.A. Davidson & CO.’s holdings in Lithium Americas (Argentina) were worth $111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LAAC. General Motors Holdings LLC bought a new position in Lithium Americas (Argentina) in the 3rd quarter valued at $48,907,000. William Blair Investment Management LLC purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter valued at $10,465,000. Van ECK Associates Corp grew its holdings 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 worth $10,615,000 after purchasing an additional 426,419 shares during the last quarter. Decade Renewable Partners LP increased its stake in Lithium Americas (Argentina) by 102.7% in the 2nd quarter. Decade Renewable Partners LP now owns 547,625 shares of the company’s stock worth $1,752,000 after buying an additional 277,500 shares during the period. Finally, M&G Plc lifted its holdings in Lithium Americas (Argentina) by 15.8% during the 2nd quarter. M&G Plc now owns 1,376,109 shares of the company’s stock valued at $4,128,000 after buying an additional 187,391 shares in the last quarter. 49.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on LAAC. Scotiabank dropped their target price on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Hsbc Global Res raised Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. Finally, HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $7.05.

Lithium Americas (Argentina) Trading Up 2.6 %

Shares of NYSE LAAC opened at $3.19 on Friday. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $6.69. The stock’s fifty day simple moving average is $3.37 and its two-hundred day simple moving average is $3.25. The stock has a market capitalization of $516.56 million, a PE ratio of 0.41 and a beta of 1.31.

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.