Flputnam Investment Management Co. Purchases New Holdings in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Flputnam Investment Management Co. acquired a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 21,543 shares of the company’s stock, valued at approximately $136,000.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth $32,000. Quent Capital LLC acquired a new stake in Lithium Americas (Argentina) during the 4th quarter worth about $34,000. Fifth Third Bancorp acquired a new stake in Lithium Americas (Argentina) during the 4th quarter worth about $53,000. FNY Investment Advisers LLC purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $62,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Lithium Americas (Argentina) in the 4th quarter valued at about $69,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on LAAC shares. BMO Capital Markets decreased their price target on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their target price for the company from $9.00 to $6.50 in a research note on Thursday, January 11th. Finally, Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $10.70.

Lithium Americas (Argentina) Stock Performance

LAAC stock opened at $4.82 on Friday. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $774.91 million, a price-to-earnings ratio of 0.60 and a beta of 1.31. Lithium Americas has a 12 month low of $3.84 and a 12 month high of $8.79. The firm has a 50 day moving average of $4.89 and a two-hundred day moving average of $5.43.

Lithium Americas (Argentina) (NYSE:LAAC) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. As a group, equities analysts anticipate that Lithium Americas will post 0.46 EPS for the current fiscal year.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.