Intact Investment Management Inc. Sells 29,300 Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Intact Investment Management Inc. lowered its position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480,900 shares of the company’s stock after selling 29,300 shares during the period. Intact Investment Management Inc. owned about 0.30% of Lithium Americas (Argentina) worth $1,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LAAC. Barclays PLC raised its holdings in shares of Lithium Americas (Argentina) by 30.1% during the 3rd quarter. Barclays PLC now owns 92,438 shares of the company’s stock valued at $301,000 after buying an additional 21,388 shares in the last quarter. Geode Capital Management LLC grew its position in Lithium Americas (Argentina) by 37.1% during the third quarter. Geode Capital Management LLC now owns 65,252 shares of the company’s stock valued at $214,000 after acquiring an additional 17,649 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the third quarter worth approximately $40,000. Apollon Wealth Management LLC lifted its holdings in shares of Lithium Americas (Argentina) by 25.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock worth $93,000 after acquiring an additional 5,870 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at $120,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Cormark upgraded Lithium Americas (Argentina) to a “moderate buy” rating in a report on Monday, January 20th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.19.

Lithium Americas (Argentina) Trading Down 0.5 %

LAAC stock opened at $2.18 on Friday. The stock has a market capitalization of $353.01 million, a price-to-earnings ratio of 0.28 and a beta of 1.35. The firm’s 50-day moving average price is $2.59 and its two-hundred day moving average price is $2.90. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $5.79.

Lithium Americas (Argentina) Company Profile

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.