Counterpoint Mutual Funds LLC Makes New $543,000 Investment in Lithium Americas (Argentina) Corp. $LAR

Counterpoint Mutual Funds LLC bought a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 81,261 shares of the company’s stock, valued at approximately $543,000.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LAR shares. Zacks Research downgraded Lithium Americas (Argentina) from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. TD Securities raised their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Scotiabank boosted their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.13.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $7.97 on Friday. Lithium Americas has a 1-year low of $2.22 and a 1-year high of $12.05. The firm’s fifty day simple moving average is $9.52 and its 200-day simple moving average is $7.90.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). On average, research analysts predict that Lithium Americas will post 0.29 earnings per share for the current fiscal year.

Lithium Americas (Argentina) 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.