Alberta Investment Management Corp Acquires Shares of 91,500 Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Alberta Investment Management Corp acquired a new position in Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 91,500 shares of the company’s stock, valued at approximately $240,000. Alberta Investment Management Corp owned 0.06% of Lithium Americas (Argentina) at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ping Capital Management Inc. boosted its holdings in Lithium Americas (Argentina) by 36.4% in the fourth quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock valued at $39,000 after purchasing an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC raised its position in Lithium Americas (Argentina) by 25.8% during the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock valued at $93,000 after acquiring an additional 5,870 shares in the last quarter. Robertson Stephens Wealth Management LLC lifted its holdings in Lithium Americas (Argentina) by 33.2% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 36,185 shares of the company’s stock valued at $95,000 after acquiring an additional 9,017 shares during the period. Legacy Capital Group California Inc. acquired a new position in Lithium Americas (Argentina) in the third quarter valued at approximately $36,000. Finally, Sanctuary Advisors LLC purchased a new stake in Lithium Americas (Argentina) in the 3rd quarter worth approximately $40,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Analysts Set New Price Targets

Separately, Cormark raised shares of 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $7.19.

Lithium Americas (Argentina) Trading Down 5.0 %

Shares of LAAC opened at $2.46 on Friday. The firm has a market cap of $398.35 million, a P/E ratio of 0.32 and a beta of 1.35. The stock’s 50 day moving average is $2.75 and its two-hundred day moving average is $2.93. Lithium Americas has a 12 month low of $2.07 and a 12 month high of $5.79.

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.