Ping Capital Management Inc. Acquires 70,920 Shares of Lithium Americas (Argentina) Corp. $LAR

Ping Capital Management Inc. increased its holdings in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) by 141.8% in the second quarter, HoldingsChannel reports. The firm owned 120,920 shares of the company’s stock after buying an additional 70,920 shares during the period. Ping Capital Management Inc.’s holdings in Lithium Americas (Argentina) were worth $252,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sandhill Capital Partners LLC bought a new position in Lithium Americas (Argentina) during the first quarter worth about $29,000. HighTower Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the first quarter worth approximately $40,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Lithium Americas (Argentina) during the first quarter worth approximately $41,000. Perigon Wealth Management LLC acquired a new stake in Lithium Americas (Argentina) during the second quarter worth approximately $41,000. Finally, McCarthy Asset Management Inc. acquired a new stake in Lithium Americas (Argentina) during the first quarter worth approximately $42,000. Institutional investors own 49.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LAR. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 11th. Scotiabank restated a “sector perform” rating and set a $3.50 price objective (up from $3.00) on shares of Lithium Americas (Argentina) in a research report on Wednesday, August 13th. BMO Capital Markets raised their price objective on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 12th. National Bankshares upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. Finally, Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Lithium Americas (Argentina) Trading Up 3.3%

Shares of NYSE:LAR opened at $3.73 on Friday. The company has a fifty day moving average of $3.22 and a 200-day moving average of $2.50. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $3.97.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.