Intact Investment Management Inc. Takes $1.74 Million Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Intact Investment Management Inc. bought a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 276,600 shares of the company’s stock, valued at approximately $1,743,000. Intact Investment Management Inc. owned approximately 0.17% of Lithium Americas (Argentina) at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Allworth Financial LP purchased a new position in Lithium Americas (Argentina) during the 4th quarter worth $32,000. Quent Capital LLC purchased a new position in Lithium Americas (Argentina) during the 4th quarter worth $34,000. Fifth Third Bancorp purchased a new position in Lithium Americas (Argentina) during the 4th quarter worth $53,000. FNY Investment Advisers LLC purchased a new position in Lithium Americas (Argentina) during the 4th quarter worth $62,000. Finally, International Assets Investment Management LLC purchased a new position in Lithium Americas (Argentina) during the 4th quarter worth $69,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LAAC shares. BMO Capital Markets reduced their price objective on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and cut their target price for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Trading Up 7.4 %

Shares of NYSE LAAC traded up $0.36 during midday trading on Friday, reaching $5.25. 1,267,543 shares of the stock were exchanged, compared to its average volume of 1,183,482. The company has a market capitalization of $844.04 million, a P/E ratio of 0.66 and a beta of 1.31. Lithium Americas has a 52-week low of $3.84 and a 52-week high of $8.79. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $4.98 and a 200-day moving average price of $5.37.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Equities research analysts expect that Lithium Americas will post 0.42 earnings per share for the current fiscal year.

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.