Financial Advocates Investment Management Makes New Investment in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Financial Advocates Investment Management acquired a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,598 shares of the company’s stock, valued at approximately $93,000.

A number of other large investors have also recently bought and sold shares of the company. Robertson Stephens Wealth Management LLC grew its stake in Lithium Americas (Argentina) by 33.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 36,185 shares of the company’s stock worth $95,000 after buying an additional 9,017 shares in the last quarter. Ping Capital Management Inc. boosted its stake in shares of Lithium Americas (Argentina) by 36.4% in the 4th quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock valued at $39,000 after purchasing an additional 4,000 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Lithium Americas (Argentina) by 37.1% in the 3rd quarter. Tidal Investments LLC now owns 350,534 shares of the company’s stock valued at $1,143,000 after purchasing an additional 94,775 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at approximately $40,000. Finally, Virtu Financial LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at approximately $317,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

NYSE:LAAC opened at $2.50 on Tuesday. The firm’s 50 day simple moving average is $2.87 and its 200 day simple moving average is $2.95. Lithium Americas has a one year low of $2.07 and a one year high of $5.79. The company has a market cap of $404.83 million, a PE ratio of 0.32 and a beta of 1.35.

Analyst Upgrades and Downgrades

Separately, Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Monday, January 20th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.