Mackenzie Financial Corp Acquires New Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Mackenzie Financial Corp purchased a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 57,620 shares of the company’s stock, valued at approximately $363,000.

Other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Lithium Americas (Argentina) in the fourth quarter valued at $32,000. Quent Capital LLC purchased a new stake in Lithium Americas (Argentina) in the fourth quarter worth about $34,000. Fifth Third Bancorp purchased a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $53,000. FNY Investment Advisers LLC bought a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth approximately $62,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter valued at approximately $69,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Analyst Ratings Changes

LAAC has been the topic of several analyst reports. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank reduced 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. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.05.

Lithium Americas (Argentina) Trading Up 0.3 %

Shares of LAAC stock traded up $0.01 during trading hours on Tuesday, reaching $3.51. 566,877 shares of the company’s stock were exchanged, compared to its average volume of 1,514,541. The stock has a market cap of $568.34 million, a PE ratio of 0.45 and a beta of 1.33. The stock’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $3.52. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $6.69.

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 analysts’ consensus estimates of ($0.03) by ($0.02). On average, equities analysts expect that Lithium Americas will post -0.02 EPS for the current fiscal year.

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.