Weiss Asset Management LP Invests $756,000 in Lithium Americas (Argentina) Corp. $LAR

Weiss Asset Management LP acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 113,159 shares of the company’s stock, valued at approximately $756,000. Weiss Asset Management LP owned approximately 0.07% of Lithium Americas (Argentina) as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in LAR. Renaissance Technologies LLC purchased a new position in Lithium Americas (Argentina) in the first quarter worth $5,328,000. Walleye Capital LLC purchased a new stake in Lithium Americas (Argentina) during the first quarter valued at about $695,000. Cetera Investment Advisers lifted its stake in Lithium Americas (Argentina) by 7.0% during the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock worth $119,000 after purchasing an additional 1,162 shares during the last quarter. ABN Amro Investment Solutions bought a new stake in Lithium Americas (Argentina) during the first quarter worth about $6,335,000. Finally, Modera Wealth Management LLC bought a new stake in Lithium Americas (Argentina) during the first quarter worth about $97,000. 49.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LAR. Zacks Research lowered Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Finally, Scotiabank boosted their target price on 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. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average price target of $8.13.

Lithium Americas (Argentina) Trading Up 0.3%

Shares of NYSE:LAR opened at $5.87 on Tuesday. The company’s fifty day moving average is $8.36 and its 200 day moving average is $8.06. Lithium Americas has a 52 week low of $2.52 and a 52 week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). As a group, sell-side analysts forecast that Lithium Americas will post 0.28 EPS for the current fiscal year.

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.