Mercer Global Advisors Inc. ADV Has $216,000 Stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Mercer Global Advisors Inc. ADV grew its position in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 8.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 67,635 shares of the company’s stock after purchasing an additional 5,503 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Lithium Americas (Argentina) were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in LAAC. General Motors Holdings LLC acquired a new position in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $80,862,000. William Blair Investment Management LLC acquired a new position in shares of Lithium Americas (Argentina) in the second quarter valued at approximately $10,465,000. M&G Plc acquired a new position in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $5,944,000. CenterBook Partners LP acquired a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $6,877,000. Finally, Hartree Partners LP grew its position in shares of Lithium Americas (Argentina) by 616.9% in the first quarter. Hartree Partners LP now owns 888,915 shares of the company’s stock valued at $4,791,000 after purchasing an additional 764,915 shares during the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

NYSE LAAC opened at $3.28 on Tuesday. The business has a fifty day moving average price of $2.65 and a two-hundred day moving average price of $3.84. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $8.79. The stock has a market capitalization of $528.83 million, a PE ratio of 0.41 and a beta of 1.32.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAAC. National Bank Financial upgraded Lithium Americas (Argentina) to a “hold” rating in a research note on Wednesday, June 5th. National Bankshares set a $6.00 price target on Lithium Americas (Argentina) and gave the company a “sector perform” rating in a research note on Thursday, June 6th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank cut their price target on 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, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.21.

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.