ABN Amro Investment Solutions Buys New Shares in Lithium Americas (Argentina) Corp. $LAR

ABN Amro Investment Solutions purchased a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 948,297 shares of the company’s stock, valued at approximately $6,335,000. ABN Amro Investment Solutions owned 0.58% of Lithium Americas (Argentina) as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Seldon Capital LP purchased a new stake in Lithium Americas (Argentina) in the 3rd quarter worth approximately $6,076,000. Millennium Management LLC raised its stake in Lithium Americas (Argentina) by 441.1% during the 4th quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after acquiring an additional 1,793,994 shares during the period. Woodline Partners LP purchased a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $3,456,000. Balyasny Asset Management L.P. purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at approximately $5,423,000. Finally, Van ECK Associates Corp boosted its position in shares of Lithium Americas (Argentina) by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock worth $57,202,000 after purchasing an additional 657,087 shares during the period. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Wall Street Analyst Weigh In

LAR has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Zacks Research downgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Scotiabank increased their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $8.13.

Lithium Americas (Argentina) Price Performance

NYSE LAR opened at $6.37 on Thursday. Lithium Americas has a 12 month low of $2.52 and a 12 month high of $12.05. The stock’s 50 day moving average is $8.59 and its 200 day moving average is $8.07.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, equities research analysts expect that Lithium Americas will post 0.28 earnings per share for the current fiscal year.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.