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

Johnson Investment Counsel Inc. acquired a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,728 shares of the company’s stock, valued at approximately $44,000.

Other hedge funds also recently modified their holdings of the company. Mather Group LLC. bought a new position in Lithium Americas (Argentina) in the 1st quarter valued at about $27,000. Fifth Third Bancorp increased its stake in shares of Lithium Americas (Argentina) by 67.9% during the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after purchasing an additional 4,000 shares during the period. Ping Capital Management Inc. acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter worth approximately $35,000. Scarborough Advisors LLC bought a new stake in Lithium Americas (Argentina) in the 4th quarter valued at $53,000. Finally, Teamwork Financial Advisors LLC acquired a new position in Lithium Americas (Argentina) in the 1st quarter valued at $54,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAAC opened at $2.54 on Monday. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $8.79. The stock has a market capitalization of $410.77 million, a price-to-earnings ratio of 0.32 and a beta of 1.32. The company’s 50 day simple moving average is $2.73 and its 200 day simple moving average is $4.00.

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

Analyst Ratings Changes

LAAC has been the subject of a number of recent research reports. National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the company a “sector perform” rating in a research report on Thursday, June 6th. National Bank Financial raised shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus cut their price target on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Finally, 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. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently 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.