Sprott Inc. Grows Stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Sprott Inc. boosted its holdings in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 13.6% during the 4th quarter, Holdings Channel reports. The firm owned 201,358 shares of the company’s stock after buying an additional 24,068 shares during the period. Sprott Inc.’s holdings in Lithium Americas (Argentina) were worth $528,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Alberta Investment Management Corp bought a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $240,000. Quotient Wealth Partners LLC purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at $61,000. Financial Advocates Investment Management bought a new stake in Lithium Americas (Argentina) in the 4th quarter valued at $93,000. Robertson Stephens Wealth Management LLC lifted its stake in Lithium Americas (Argentina) by 33.2% in the 4th quarter. Robertson Stephens Wealth Management LLC now owns 36,185 shares of the company’s stock worth $95,000 after purchasing an additional 9,017 shares in the last quarter. Finally, Ping Capital Management Inc. lifted its stake in Lithium Americas (Argentina) by 36.4% in the 4th quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock worth $39,000 after purchasing an additional 4,000 shares in the last quarter. 49.17% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Down 2.0 %

Lithium Americas (Argentina) stock opened at $2.41 on Wednesday. Lithium Americas has a 52-week low of $2.07 and a 52-week high of $5.79. The company has a market cap of $390.26 million, a price-to-earnings ratio of 0.31 and a beta of 1.35. The firm’s fifty day moving average is $2.74 and its 200 day moving average is $2.94.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded Lithium Americas (Argentina) to a “moderate buy” rating in a research report on Monday, January 20th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.19.

About Lithium Americas (Argentina)

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.