Truist Financial Corp Has $102,000 Stock Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Truist Financial Corp cut its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,959 shares of the company’s stock after selling 4,500 shares during the period. Truist Financial Corp’s holdings in Lithium Americas (Argentina) were worth $102,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. General Motors Holdings LLC acquired a new stake in Lithium Americas (Argentina) during the 1st quarter worth approximately $80,862,000. Vanguard Group Inc. lifted its holdings in shares of Lithium Americas (Argentina) by 0.6% during the first quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock worth $19,191,000 after buying an additional 21,456 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Lithium Americas (Argentina) in the second quarter valued at about $10,465,000. Van ECK Associates Corp grew its stake in shares of Lithium Americas (Argentina) by 13.2% in the second quarter. Van ECK Associates Corp now owns 2,614,946 shares of the company’s stock valued at $8,366,000 after acquiring an additional 304,590 shares in the last quarter. Finally, M&G Plc increased its position in Lithium Americas (Argentina) by 15.8% during the second quarter. M&G Plc now owns 1,376,109 shares of the company’s stock worth $4,128,000 after acquiring an additional 187,391 shares during the period. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

Shares of LAAC opened at $3.45 on Monday. The firm has a 50 day simple moving average of $2.83 and a two-hundred day simple moving average of $3.65. Lithium Americas has a one year low of $2.07 and a one year high of $6.75. The company has a market cap of $556.24 million, a P/E ratio of 0.43 and a beta of 1.33.

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

Analysts Set New Price Targets

LAAC has been the subject of a number of recent research reports. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Scotiabank reduced their price target 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. Finally, HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $7.05.

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.