Formidable Asset Management LLC Acquires New Position in Lithium Americas (Argentina) Corp. (NYSE:LAR)

Formidable Asset Management LLC purchased a new position in Lithium Americas (Argentina) Corp. (NYSE:LAR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 364,223 shares of the company's stock, valued at approximately $779,000. Formidable Asset Management LLC owned about 0.22% of Lithium Americas (Argentina) at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LAR. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $41,000. Quotient Wealth Partners LLC purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $49,000. Robertson Stephens Wealth Management LLC purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $56,000. D.A. Davidson & CO. purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $57,000. Finally, Balboa Wealth Partners purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $90,000. Hedge funds and other institutional investors own 49.17% of the company's stock.

Lithium Americas (Argentina) Trading Down 1.4%

NYSE:LAR traded down $0.04 during mid-day trading on Friday, reaching $2.73. The company's stock had a trading volume of 1,259,231 shares. Lithium Americas has a 12-month low of $1.71 and a 12-month high of $3.96. The firm's fifty day simple moving average is $2.09. The stock has a market capitalization of $441.99 million and a PE ratio of -38.99.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). On average, sell-side analysts anticipate that Lithium Americas will post -0.05 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Scotiabank decreased their target price on Lithium Americas (Argentina) from $3.50 to $3.00 and set a "sector outperform" rating for the company in a research report on Tuesday, May 20th.

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.