Walleye Capital LLC Makes New Investment in Lithium Americas (Argentina) Corp. $LAR

Walleye Capital LLC bought a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 103,985 shares of the company’s stock, valued at approximately $695,000.

A number of other large investors also recently made changes to their positions in LAR. Van ECK Associates Corp boosted its position in shares of Lithium Americas (Argentina) by 6.8% in the 4th 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Lithium Americas (Argentina) by 9.3% during 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 during the period. Invesco Ltd. increased its holdings in Lithium Americas (Argentina) by 6.1% in the third quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock valued at $7,790,000 after purchasing an additional 133,572 shares during the last quarter. Millennium Management LLC increased its holdings in Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after purchasing an additional 1,793,994 shares during the last quarter. Finally, Seldon Capital LP lifted its stake in Lithium Americas (Argentina) by 18.1% in the fourth quarter. Seldon Capital LP now owns 2,148,931 shares of the company’s stock valued at $11,992,000 after buying an additional 329,242 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LAR. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Zacks Research cut Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Scotiabank lifted their price objective on shares of 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $8.13.

Lithium Americas (Argentina) Stock Performance

Shares of LAR opened at $5.86 on Friday. Lithium Americas has a twelve month low of $2.52 and a twelve month high of $12.05. The firm’s 50 day moving average price is $8.43 and its two-hundred day moving average price is $8.06. The firm has a market cap of $959.87 million and a P/E ratio of -15.42.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, sell-side analysts anticipate 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.