National Bank of Canada FI Acquires Shares of 116,478 Lithium Americas (Argentina) Corp. $LAR

Key Points

• National Bank of Canada FI acquired 116,478 shares of Lithium Americas (Argentina) Corp., valued at approximately $244,000, increasing its ownership to about 0.07% of the company.
• Several other institutional investors have also made significant investments in Lithium Americas (Argentina), contributing to a total of 49.17% institutional ownership in the stock.
• Wall Street analysts have raised their price targets for the stock, with a notable upgrade from $2.90 to $4.50 by National Bankshares, reflecting optimistic growth predictions for the company.

National Bank of Canada FI acquired a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 116,478 shares of the company's stock, valued at approximately $244,000. National Bank of Canada FI owned about 0.07% of Lithium Americas (Argentina) at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. CenterBook Partners LP bought a new position in Lithium Americas (Argentina) during the 1st quarter valued at $4,613,000. Formidable Asset Management LLC bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $779,000. Alps Advisors Inc. bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $627,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $592,000. Finally, Swiss National Bank bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $474,000. 49.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LAR shares. Scotiabank restated a "sector perform" rating and issued a $3.50 price target (up from $3.00) on shares of Lithium Americas (Argentina) in a research report on Wednesday, August 13th. BMO Capital Markets raised their price target on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 12th. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 11th. Finally, National Bankshares upgraded shares of Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE:LAR opened at $3.33 on Monday. The company has a market cap of $539.13 million and a P/E ratio of -30.27. The firm has a 50-day moving average price of $2.52. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $3.96.

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.

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