Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Up 8.4% – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAAC) was up 8.4% on Monday . The stock traded as high as $3.10 and last traded at $3.10. Approximately 696,221 shares were traded during mid-day trading, a decline of 33% from the average daily volume of 1,045,211 shares. The stock had previously closed at $2.86.

Lithium Americas (Argentina) Stock Performance

The business has a 50 day moving average of $3.14 and a 200-day moving average of $3.03. The company has a market capitalization of $505.22 million, a P/E ratio of 0.40 and a beta of 1.35.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently bought and sold shares of LAAC. General Motors Holdings LLC purchased a new position in Lithium Americas (Argentina) during the third quarter worth about $48,907,000. Intact Investment Management Inc. raised its stake in Lithium Americas (Argentina) by 47.3% in the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock valued at $1,671,000 after purchasing an additional 163,800 shares in the last quarter. Van ECK Associates Corp lifted its position in Lithium Americas (Argentina) by 16.3% during the third quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock valued at $10,615,000 after purchasing an additional 426,419 shares during the last quarter. Decade Renewable Partners LP grew its stake in Lithium Americas (Argentina) by 102.7% in the 2nd quarter. Decade Renewable Partners LP now owns 547,625 shares of the company’s stock worth $1,752,000 after buying an additional 277,500 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

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.