Renaissance Technologies LLC Takes $5.33 Million Position in Lithium Americas (Argentina) Corp. $LAR

Renaissance Technologies LLC bought a new position in Lithium Americas (Argentina) Corp. (NYSE:LAR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 797,600 shares of the company’s stock, valued at approximately $5,328,000. Renaissance Technologies LLC owned approximately 0.49% of Lithium Americas (Argentina) as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LAR. Royal Bank of Canada bought a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $572,000. Goldman Sachs Group Inc. bought a new stake in Lithium Americas (Argentina) in the 1st quarter worth approximately $1,064,000. Woodline Partners LP purchased a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $3,456,000. JPMorgan Chase & Co. purchased a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Lithium Americas (Argentina) by 7.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

Shares of LAR stock opened at $6.35 on Thursday. Lithium Americas has a 1 year low of $2.60 and a 1 year high of $12.05. The stock’s 50 day simple moving average is $7.87 and its two-hundred day simple moving average is $7.98.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, sell-side analysts forecast that Lithium Americas will post 0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Scotiabank lowered their price objective on shares of Lithium Americas (Argentina) from $11.00 to $10.00 and set a “sector outperform” rating for the company in a research report on Tuesday, July 28th. Finally, Zacks Research cut shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.99.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.