RWC Asset Management LLP Makes New Investment in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

RWC Asset Management LLP purchased a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 906,652 shares of the company’s stock, valued at approximately $5,741,000. RWC Asset Management LLP owned about 0.56% of Lithium Americas (Argentina) as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $281,000. FNY Investment Advisers LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $62,000. Mutual Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $306,000. Quent Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $34,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $53,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Up 7.4 %

NYSE LAAC traded up $0.36 during mid-day trading on Friday, hitting $5.25. The company’s stock had a trading volume of 1,267,543 shares, compared to its average volume of 1,183,482. The company’s 50 day simple moving average is $4.98 and its 200 day simple moving average is $5.39. Lithium Americas has a twelve month low of $3.84 and a twelve month high of $8.79. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $844.04 million, a price-to-earnings ratio of 0.65 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. Analysts anticipate that Lithium Americas will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on LAAC shares. BMO Capital Markets reduced their price objective on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target for the company in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average price target of $10.70.

Lithium Americas (Argentina) Company Profile

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.