CIBC Asset Management Inc Takes Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

CIBC Asset Management Inc acquired a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAACFree Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 114,922 shares of the company’s stock, valued at approximately $727,000. CIBC Asset Management Inc owned about 0.07% of Lithium Americas (Argentina) as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Scotia Capital Inc. acquired a new stake in Lithium Americas (Argentina) in the 4th quarter valued at $2,245,000. Private Advisor Group LLC acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $152,000. FIFTHDELTA Ltd acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $32,598,000. Formidable Asset Management LLC bought a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $3,511,000. Finally, Allworth Financial LP bought a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $32,000. Institutional investors own 49.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. National Bank Financial upgraded Lithium Americas (Argentina) to a “hold” rating in a research note on Wednesday, June 5th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target for the company in a research note on Friday, March 22nd. Stifel Nicolaus decreased their price objective on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st. BMO Capital Markets cut their target price 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, National Bankshares set a $6.00 price target on Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.83.

Get Our Latest Report on Lithium Americas (Argentina)

Lithium Americas (Argentina) Stock Performance

Shares of LAAC opened at $4.11 on Monday. The firm has a market cap of $662.57 million, a P/E ratio of 0.51 and a beta of 1.37. Lithium Americas has a 52 week low of $3.84 and a 52 week high of $8.79. The firm’s 50-day simple moving average is $5.01 and its 200 day simple moving average is $5.11.

Lithium Americas (Argentina) (NYSE:LAACGet Free Report) last posted its earnings results on Monday, May 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.10). During the same quarter in the prior year, the business earned ($0.04) earnings per share. As a group, equities analysts forecast that Lithium Americas will post 0.15 earnings per share for the current year.

Lithium Americas (Argentina) Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Lithium Americas (Argentina) (NYSE:LAAC)

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