Lithium Americas (Argentina) Corp. $LAR Shares Sold by CenterBook Partners LP

CenterBook Partners LP lowered its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) by 70.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,231,844 shares of the company’s stock after selling 2,968,394 shares during the period. CenterBook Partners LP owned 0.76% of Lithium Americas (Argentina) worth $6,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $572,000. Goldman Sachs Group Inc. acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $1,064,000. Woodline Partners LP acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $3,456,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Lithium Americas (Argentina) by 7.1% in the 2nd 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. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Trading Down 0.2%

LAR opened at $8.62 on Monday. The stock’s 50-day moving average price is $9.16 and its 200 day moving average price is $7.45. Lithium Americas has a 12-month low of $1.90 and a 12-month high of $12.05. The firm has a market cap of $1.40 billion and a price-to-earnings ratio of -22.67.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LAR. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. Wall Street Zen raised Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. TD Securities upped their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Scotiabank upped 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, Zacks Research raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average target price of $8.13.

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.