Walleye Capital LLC Invests $695,000 in Lithium Americas (Argentina) Corp. $LAR

Walleye Capital LLC purchased a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 103,985 shares of the company’s stock, valued at approximately $695,000. Walleye Capital LLC owned about 0.06% of Lithium Americas (Argentina) at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers raised its position in Lithium Americas (Argentina) by 7.0% in the 1st quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after purchasing an additional 1,162 shares during the last quarter. Brown Advisory Inc. grew its holdings in shares of Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after purchasing an additional 3,000 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Lithium Americas (Argentina) by 14.1% in the second 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 in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Lithium Americas (Argentina) by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after buying an additional 3,575 shares during the last quarter. 49.17% of the stock is owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Stock Down 3.5%

Shares of LAR opened at $5.86 on Friday. The stock’s fifty day simple moving average is $8.43 and its 200-day simple moving average is $8.06. The firm has a market capitalization of $959.87 million and a PE ratio of -15.42. Lithium Americas has a 12-month low of $2.52 and a 12-month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Analysts anticipate that Lithium Americas will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAR. Scotiabank upped their price target on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Finally, Zacks Research lowered shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.13.

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.