Mackenzie Financial Corp Invests $363,000 in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Mackenzie Financial Corp purchased a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 57,620 shares of the company’s stock, valued at approximately $363,000.

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

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $5.25 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. The stock has a fifty day moving average price of $4.98 and a two-hundred day moving average price of $5.37. Lithium Americas has a 52-week low of $3.84 and a 52-week high of $8.79. The firm has a market capitalization of $844.04 million, a P/E ratio of 0.66 and a beta of 1.31.

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, topping the consensus estimate of $0.01 by $0.05. As a group, analysts anticipate that Lithium Americas will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LAAC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and cut their target price for the company from $9.00 to $6.50 in a research note on Thursday, January 11th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price for the company in a research note on Friday, March 22nd. Finally, BMO Capital Markets dropped their price objective on 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. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.70.

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.