Weiss Asset Management LP Acquires Shares of 113,159 Lithium Americas (Argentina) Corp. $LAR

Weiss Asset Management LP acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 113,159 shares of the company’s stock, valued at approximately $756,000.

Several other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in Lithium Americas (Argentina) during the 2nd quarter valued at $37,000. BNP Paribas Financial Markets grew its holdings in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after acquiring an additional 3,552 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in shares of Lithium Americas (Argentina) by 538.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after acquiring an additional 5,900 shares during the period. Diversify Advisory Services LLC purchased a new position in shares of Lithium Americas (Argentina) in the second quarter valued at about $40,000. Finally, Raymond James Financial Inc. raised its stake in shares of Lithium Americas (Argentina) by 14.1% during the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after acquiring an additional 3,214 shares during the last quarter. 49.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LAR. Scotiabank increased their target price on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Finally, Zacks Research cut Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.13.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $5.87 on Tuesday. The company’s fifty day simple moving average is $8.36 and its two-hundred day simple moving average is $8.06. Lithium Americas has a 12-month low of $2.52 and a 12-month high of $12.05.

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

Lithium Americas (Argentina) 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.