Van ECK Associates Corp Sells 106,731 Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Van ECK Associates Corp cut its position in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,934,634 shares of the company’s stock after selling 106,731 shares during the quarter. Van ECK Associates Corp owned about 1.81% of Lithium Americas (Argentina) worth $7,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LAAC. Sterling Investment Counsel LLC acquired a new stake in shares of Lithium Americas (Argentina) during the third quarter worth $90,000. Legacy Capital Group California Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the third quarter worth $36,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Lithium Americas (Argentina) by 31.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 347,933 shares of the company’s stock worth $1,134,000 after buying an additional 83,560 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Lithium Americas (Argentina) by 47.3% during the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock worth $1,671,000 after buying an additional 163,800 shares in the last quarter. Finally, Old West Investment Management LLC lifted its holdings in shares of Lithium Americas (Argentina) by 193.6% during the third quarter. Old West Investment Management LLC now owns 98,032 shares of the company’s stock worth $320,000 after buying an additional 64,646 shares in the last quarter. 49.17% of the stock is owned by institutional investors.

Lithium Americas (Argentina) Stock Down 1.2 %

LAAC stock opened at $2.57 on Tuesday. The company has a market cap of $416.17 million, a PE ratio of 0.33 and a beta of 1.35. The business has a 50-day simple moving average of $2.79 and a 200 day simple moving average of $2.93. Lithium Americas has a 52 week low of $2.07 and a 52 week high of $5.79.

Wall Street Analysts Forecast Growth

Separately, Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a report on Monday, January 20th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average price target of $7.19.

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.