Goldman Sachs Group Inc. Acquires Shares of 497,136 Lithium Americas (Argentina) Corp. $LAR

Key Points

• Goldman Sachs Group Inc. purchased approximately 497,136 shares of Lithium Americas (Argentina) Corp. valued at around $1,064,000, implying they now own about 0.31% of the company.
• Several hedge funds have also invested in Lithium Americas, with institutional investors holding 49.17% of the stock as of recent filings.
• Analysts have raised price targets for Lithium Americas, with National Bankshares predicting a price target increase from $2.90 to $4.50, indicating a positive outlook for the stock.

Goldman Sachs Group Inc. bought a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 497,136 shares of the company's stock, valued at approximately $1,064,000. Goldman Sachs Group Inc. owned about 0.31% of Lithium Americas (Argentina) as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sandhill Capital Partners LLC acquired a new stake in Lithium Americas (Argentina) during the 1st quarter valued at approximately $29,000. HighTower Advisors LLC bought a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $40,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $41,000. McCarthy Asset Management Inc. bought a new position in Lithium Americas (Argentina) during the 1st quarter valued at $42,000. Finally, Banco Santander S.A. bought a new position in Lithium Americas (Argentina) during the 1st quarter valued at $46,000. Institutional investors and hedge funds own 49.17% of the company's stock.

Lithium Americas (Argentina) Stock Performance

LAR stock traded up $0.12 during midday trading on Monday, hitting $3.40. The company had a trading volume of 1,482,118 shares. The stock's 50 day moving average price is $3.08 and its 200 day moving average price is $2.43. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $3.96.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Scotiabank restated a "sector perform" rating and issued a $3.50 target price (up from $3.00) on shares of Lithium Americas (Argentina) in a research note on Wednesday, August 13th. National Bankshares raised Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $2.90 to $4.50 in a research note on Tuesday, August 12th. Zacks Research raised Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research note on Monday, September 15th. BMO Capital Markets upped their price objective on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a "market perform" rating in a report on Tuesday, August 12th. Finally, National Bank Financial raised Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $4.00.

About Lithium Americas (Argentina)

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.