Allworth Financial LP Buys New Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Allworth Financial LP purchased a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 4th quarter, HoldingsChannel reports. The firm purchased 5,128 shares of the company’s stock, valued at approximately $32,000.

Other hedge funds have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new position in shares of Lithium Americas (Argentina) during the fourth quarter valued at about $34,000. Fifth Third Bancorp bought a new stake in Lithium Americas (Argentina) during the 4th quarter valued at approximately $53,000. FNY Investment Advisers LLC purchased a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $62,000. International Assets Investment Management LLC purchased a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $69,000. Finally, Perfromance Wealth Partners LLC bought a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth approximately $142,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAAC opened at $5.18 on Monday. The company has a market capitalization of $832.79 million, a P/E ratio of 0.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. Lithium Americas has a 1-year low of $3.84 and a 1-year high of $8.79. The firm’s fifty day moving average is $4.81.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. On average, sell-side analysts anticipate that Lithium Americas will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on LAAC. Scotiabank raised 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. 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 research note on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $9.00 to $6.50 in a research note on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.70.

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.