CenterBook Partners LP Boosts Stock Position in Lithium Americas (Argentina) Corp. $LAR

CenterBook Partners LP raised its holdings in Lithium Americas (Argentina) Corp. (NYSE:LAR) by 102.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,200,238 shares of the company’s stock after purchasing an additional 2,122,035 shares during the period. Lithium Americas (Argentina) comprises approximately 0.7% of CenterBook Partners LP’s holdings, making the stock its 27th largest holding. CenterBook Partners LP owned about 2.59% of Lithium Americas (Argentina) worth $14,029,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in LAR. Royal Bank of Canada bought a new stake in shares of Lithium Americas (Argentina) in the first quarter worth $572,000. Goldman Sachs Group Inc. acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $1,064,000. Woodline Partners LP acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $3,456,000. Stratos Wealth Advisors LLC bought a new position in shares of Lithium Americas (Argentina) during the second quarter worth about $28,000. Finally, Boston Partners lifted its position in shares of Lithium Americas (Argentina) by 15.3% during the second quarter. Boston Partners now owns 136,505 shares of the company’s stock worth $284,000 after purchasing an additional 18,096 shares during the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $4.25 to $7.75 in a report on Monday, January 12th. Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target for the company in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Finally, Stifel Nicolaus increased their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and a consensus price target of $7.44.

Lithium Americas (Argentina) Stock Performance

Shares of LAR opened at $6.80 on Wednesday. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $8.80. The stock has a fifty day moving average price of $6.67 and a 200 day moving average price of $4.93.

About Lithium Americas (Argentina)

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.