Van ECK Associates Corp Has $32.05 Million Holdings in Lithium Americas (Argentina) Corp. $LAR

Van ECK Associates Corp increased its position in Lithium Americas (Argentina) Corp. (NYSE:LAR) by 119.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,594,157 shares of the company’s stock after purchasing an additional 5,219,416 shares during the quarter. Van ECK Associates Corp owned approximately 5.91% of Lithium Americas (Argentina) worth $32,045,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LAR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Lithium Americas (Argentina) by 9.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock worth $9,975,000 after purchasing an additional 408,065 shares in the last quarter. CenterBook Partners LP raised its holdings in shares of Lithium Americas (Argentina) by 102.1% in the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after buying an additional 2,122,035 shares in the last quarter. Invesco Ltd. boosted its stake in Lithium Americas (Argentina) by 42.3% in the 2nd quarter. Invesco Ltd. now owns 2,198,736 shares of the company’s stock valued at $4,573,000 after buying an additional 653,351 shares in the last quarter. Woodline Partners LP bought a new stake in Lithium Americas (Argentina) in the first quarter valued at $3,456,000. Finally, Goldman Sachs Group Inc. acquired a new position in Lithium Americas (Argentina) during the first quarter worth $1,064,000. 49.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LAR shares. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target for the company in a report on Tuesday, January 13th. TD Securities upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $4.25 to $7.75 in a research note on Monday, January 12th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Finally, Stifel Nicolaus upped their price target on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average price target of $7.44.

Lithium Americas (Argentina) Stock Up 1.7%

Shares of LAR stock opened at $7.21 on Thursday. The firm has a market capitalization of $1.17 billion and a price-to-earnings ratio of -14.43. The firm has a fifty day moving average of $7.30 and a 200-day moving average of $5.39. Lithium Americas has a 12-month low of $1.71 and a 12-month high of $8.80.

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.