Renaissance Technologies LLC Purchases New Holdings in Lithium Americas (Argentina) Corp. $LAR

Renaissance Technologies LLC acquired a new position in Lithium Americas (Argentina) Corp. (NYSE:LAR) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 797,600 shares of the company’s stock, valued at approximately $5,328,000.

Other institutional investors have also added to or reduced their stakes in the company. Seldon Capital LP purchased a new position in shares of Lithium Americas (Argentina) during the third quarter valued at approximately $6,076,000. Millennium Management LLC raised its holdings in shares of Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after buying an additional 1,793,994 shares during the period. Woodline Partners LP bought a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $3,456,000. Balyasny Asset Management L.P. bought a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $5,423,000. Finally, ABN Amro Investment Solutions purchased a new position in Lithium Americas (Argentina) during the 1st quarter valued at $6,335,000. Institutional investors own 49.17% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Scotiabank cut their price objective on Lithium Americas (Argentina) from $11.00 to $10.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, July 28th. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. One 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 given a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average price target of $7.99.

Lithium Americas (Argentina) Stock Performance

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

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, analysts anticipate that Lithium Americas will post 0.27 EPS for the current fiscal year.

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.