Old West Investment Management LLC Buys New Stake in Lithium Americas (Argentina) Corp. $LAR

Key Points

• Old West Investment Management LLC acquired 111,145 shares of Lithium Americas (Argentina) Corp., worth approximately $238,000, during the first quarter.
• Several institutional investors have increased their stakes in Lithium Americas, bringing total institutional ownership to 49.17%.
• Research analysts have shown positive sentiment towards Lithium Americas, with upgraded ratings and an average price target of $4.00 per share.

Old West Investment Management LLC acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 111,145 shares of the company's stock, valued at approximately $238,000. Old West Investment Management LLC owned 0.07% of Lithium Americas (Argentina) as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth $592,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter worth about $56,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter worth about $41,000. Balboa Wealth Partners purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter worth about $90,000. Finally, Mutual Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter worth about $103,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Performance

NYSE LAR traded down $0.01 on Friday, hitting $3.42. 1,080,808 shares of the company's stock were exchanged. The firm's 50-day moving average price is $2.77 and its two-hundred day moving average price is $2.34. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $3.96.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. National Bankshares upgraded Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. BMO Capital Markets increased their price target on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a report on Tuesday, August 12th. Scotiabank reissued a "sector perform" rating and set a $3.50 target price (up previously from $3.00) on shares of Lithium Americas (Argentina) in a research note on Wednesday, August 13th. National Bank Financial upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.00.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.