Lithium Americas (Argentina) Corp. $LAR Stake Raised by CenterBook Partners LP

CenterBook Partners LP increased its holdings in Lithium Americas (Argentina) Corp. (NYSE:LAR) by 102.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,200,238 shares of the company’s stock after purchasing an additional 2,122,035 shares during the quarter. Lithium Americas (Argentina) comprises about 0.7% of CenterBook Partners LP’s portfolio, making the stock its 27th biggest holding. CenterBook Partners LP’s holdings in Lithium Americas (Argentina) were worth $14,029,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LAR. JPMorgan Chase & Co. boosted its position in Lithium Americas (Argentina) by 58.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 27,728 shares of the company’s stock worth $93,000 after acquiring an additional 10,176 shares during the period. Cibc World Market Inc. raised its stake in shares of Lithium Americas (Argentina) by 2.3% during the third quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after purchasing an additional 2,940 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Lithium Americas (Argentina) during the third quarter valued at about $130,000. Jones Financial Companies Lllp lifted its holdings in Lithium Americas (Argentina) by 59.0% in the third quarter. Jones Financial Companies Lllp now owns 59,444 shares of the company’s stock worth $210,000 after purchasing an additional 22,050 shares during the period. Finally, Sage Investment Counsel LLC bought a new position in Lithium Americas (Argentina) in the 3rd quarter valued at about $38,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

NYSE LAR opened at $6.80 on Wednesday. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $8.80. The stock’s 50-day moving average price is $6.67 and its two-hundred day moving average price is $4.93.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LAR. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target for the company in a research note on Tuesday, January 13th. TD Securities upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Stifel Nicolaus lifted their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, National Bank Financial increased their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.44.

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.