Johnson Investment Counsel Inc. Invests $44,000 in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Johnson Investment Counsel Inc. acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 13,728 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Truist Financial Corp acquired a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at about $239,000. Russell Investments Group Ltd. acquired a new stake in Lithium Americas (Argentina) during the 4th quarter worth approximately $1,181,000. Swiss National Bank bought a new stake in Lithium Americas (Argentina) during the 4th quarter worth approximately $1,301,000. Private Advisor Group LLC bought a new position in shares of Lithium Americas (Argentina) during the fourth quarter valued at $152,000. Finally, Boston Partners acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $387,000. Institutional investors own 49.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on LAAC shares. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus lowered their price objective on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. National Bankshares set a $6.00 target price on Lithium Americas (Argentina) and gave the company a “sector perform” rating in a report on Thursday, June 6th. National Bank Financial upgraded shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Finally, Scotiabank dropped their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $8.21.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE LAAC opened at $2.54 on Monday. The company has a market capitalization of $410.77 million, a P/E ratio of 0.32 and a beta of 1.32. Lithium Americas has a 52-week low of $2.07 and a 52-week high of $8.79. The company’s 50 day moving average price is $2.73 and its 200-day moving average price is $4.00.

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

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.