William Blair Investment Management LLC Makes New Investment in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

William Blair Investment Management LLC bought a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,270,432 shares of the company’s stock, valued at approximately $10,465,000. William Blair Investment Management LLC owned approximately 2.03% of Lithium Americas (Argentina) as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. General Motors Holdings LLC acquired a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth $80,862,000. FIFTHDELTA Ltd acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth about $32,598,000. M&G Plc purchased a new position in Lithium Americas (Argentina) in the first quarter valued at about $5,944,000. CenterBook Partners LP acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter valued at approximately $6,877,000. Finally, Hartree Partners LP boosted its stake in shares of Lithium Americas (Argentina) by 616.9% during the 1st quarter. Hartree Partners LP now owns 888,915 shares of the company’s stock worth $4,791,000 after acquiring an additional 764,915 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. National Bank Financial raised Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Scotiabank dropped their target price on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Finally, National Bankshares set a $6.00 price objective on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $8.21.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAAC opened at $2.53 on Tuesday. The company has a 50-day simple moving average of $2.72 and a 200-day simple moving average of $3.99. The company has a market cap of $409.15 million, a PE ratio of 0.32 and a beta of 1.32. Lithium Americas has a 12 month low of $2.07 and a 12 month high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC) last issued 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).

About Lithium Americas (Argentina)

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.