Fairscale Capital LLC Makes New $31,000 Investment in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Fairscale Capital LLC acquired a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,121 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mather Group LLC. acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $27,000. Scarborough Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth $53,000. Fifth Third Bancorp raised its stake in Lithium Americas (Argentina) by 67.9% in the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after purchasing an additional 4,000 shares in the last quarter. Teamwork Financial Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the first quarter worth about $54,000. Finally, Ping Capital Management Inc. bought a new position in Lithium Americas (Argentina) in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Down 5.0 %

Shares of LAAC stock opened at $2.48 on Monday. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $8.79. The stock’s fifty day simple moving average is $2.68 and its 200 day simple moving average is $3.92. The firm has a market capitalization of $399.85 million, a P/E ratio of 0.31 and a beta of 1.32.

Lithium Americas (Argentina) (NYSE:LAAC) last released its quarterly 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

A number of analysts have recently weighed in on the stock. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. National Bank Financial raised Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. National Bankshares set a $6.00 price target on Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a report on Thursday, June 6th. Hsbc Global Res raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank decreased their target price on 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 research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.