Formidable Asset Management LLC Purchases Shares of 364,223 Lithium Americas (Argentina) Corp. (NYSE:LAR)

Formidable Asset Management LLC bought a new stake in Lithium Americas (Argentina) Corp. (NYSE:LAR - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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) as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Lithium Americas (Argentina) during the first quarter worth about $592,000. Robertson Stephens Wealth Management LLC bought a new stake in shares of Lithium Americas (Argentina) during the first quarter worth about $56,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Lithium Americas (Argentina) during the first quarter worth about $41,000. Balboa Wealth Partners bought a new stake in shares of Lithium Americas (Argentina) during the first quarter worth about $90,000. Finally, Mutual Advisors LLC bought a new stake in shares of Lithium Americas (Argentina) during the first quarter worth about $103,000. Institutional investors own 49.17% of the company's stock.

Lithium Americas (Argentina) Trading Down 5.4%

Shares of Lithium Americas (Argentina) stock traded down $0.16 during midday trading on Wednesday, reaching $2.83. The company had a trading volume of 587,918 shares, compared to its average volume of 1,007,936. The stock's fifty day moving average is $2.09. The stock has a market capitalization of $458.18 million and a price-to-earnings ratio of -40.42. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $3.96.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). Research analysts forecast that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Scotiabank cut their price objective on Lithium Americas (Argentina) from $3.50 to $3.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 20th.

Lithium Americas (Argentina) 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.