Avantax Advisory Services Inc. Takes $159,000 Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Avantax Advisory Services Inc. purchased a new position in Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 25,116 shares of the company’s stock, valued at approximately $159,000.

A number of other large investors also recently bought and sold shares of LAAC. Van ECK Associates Corp bought a new position in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $15,763,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at $15,303,000. RWC Asset Management LLP bought a new stake in Lithium Americas (Argentina) in the fourth quarter worth $5,741,000. Panview Asian Equity Master Fund purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth $5,584,000. Finally, Formidable Asset Management LLC bought a new position in shares of Lithium Americas (Argentina) during the fourth quarter valued at $3,511,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Performance

LAAC opened at $4.72 on Monday. The company’s 50-day simple moving average is $5.14 and its two-hundred day simple moving average is $5.21. Lithium Americas has a 52-week low of $3.84 and a 52-week high of $8.79. The stock has a market capitalization of $760.39 million, a P/E ratio of 0.59 and a beta of 1.33.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its earnings results on Monday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). During the same period in the prior year, the firm posted ($0.04) EPS. Research analysts forecast that Lithium Americas will post 0.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LAAC. BMO Capital Markets dropped their price target on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target on the stock in a report on Friday, March 22nd. Finally, Stifel Nicolaus decreased their price objective on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.40.

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.