Flputnam Investment Management Co. Invests $136,000 in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Flputnam Investment Management Co. purchased a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,543 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in Lithium Americas (Argentina) during the 4th quarter worth about $32,000. Quent Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $34,000. Fifth Third Bancorp bought a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth approximately $53,000. FNY Investment Advisers LLC acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $62,000. Finally, International Assets Investment Management LLC bought a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $69,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

Shares of LAAC stock opened at $4.82 on Friday. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.24. Lithium Americas has a 12-month low of $3.84 and a 12-month high of $8.79. The firm has a fifty day moving average of $4.89 and a 200-day moving average of $5.43. The firm has a market capitalization of $774.91 million, a price-to-earnings ratio of 0.60 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. On average, equities research analysts forecast that Lithium Americas will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft downgraded Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $6.50 in a report on Thursday, January 11th. Finally, Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average price target of $10.70.

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.