Van ECK Associates Corp Has $32.05 Million Stake in Lithium Americas (Argentina) Corp. $LAR

Van ECK Associates Corp lifted its stake in Lithium Americas (Argentina) Corp. (NYSE:LAR) by 119.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,594,157 shares of the company’s stock after buying an additional 5,219,416 shares during the period. Van ECK Associates Corp owned approximately 0.06% of Lithium Americas (Argentina) worth $32,045,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Insigneo Advisory Services LLC bought a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter valued at $34,000. JPMorgan Chase & Co. acquired a new position in Lithium Americas (Argentina) in the second quarter valued at about $37,000. Sage Investment Counsel LLC bought a new stake in Lithium Americas (Argentina) during the third quarter worth about $38,000. Diversify Advisory Services LLC acquired a new stake in Lithium Americas (Argentina) during the second quarter worth about $40,000. Finally, Raymond James Financial Inc. increased its holdings in Lithium Americas (Argentina) by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after buying an additional 3,214 shares during the period. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE LAR opened at $7.21 on Thursday. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $8.80. The stock has a market cap of $1.17 billion and a P/E ratio of -14.43. The firm has a 50 day moving average price of $7.30 and a two-hundred day moving average price of $5.39.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, January 7th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their target price for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Finally, TD Securities upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $7.44.

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.