Legacy Capital Group California Inc. Buys New Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Legacy Capital Group California Inc. purchased a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,031 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors also recently made changes to their positions in the company. Fairscale Capital LLC acquired a new stake in Lithium Americas (Argentina) in the second quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in shares of Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after buying an additional 4,000 shares in the last quarter. Ping Capital Management Inc. acquired a new stake in shares of Lithium Americas (Argentina) in the second quarter valued at $35,000. Vanguard Personalized Indexing Management LLC bought a new position in Lithium Americas (Argentina) during the second quarter valued at about $36,000. Finally, Johnson Investment Counsel Inc. acquired a new position in Lithium Americas (Argentina) during the second quarter worth about $44,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Finally, Scotiabank dropped their price target on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $3.50 on Friday. Lithium Americas has a 52 week low of $2.07 and a 52 week high of $6.69. The firm has a market capitalization of $566.72 million, a price-to-earnings ratio of 0.45 and a beta of 1.33. The company has a 50 day moving average price of $2.94 and a 200 day moving average price of $3.60.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Equities analysts forecast that Lithium Americas will post -0.02 earnings per share for the current fiscal year.

Lithium Americas (Argentina) Company Profile

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.