National Bank of Canada FI Invests $244,000 in 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 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 disclosure with the SEC. The firm bought 116,478 shares of the company's stock, valued at approximately $244,000. National Bank of Canada FI owned approximately 0.07% of Lithium Americas (Argentina) as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $41,000. Banco Santander S.A. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $46,000. Quotient Wealth Partners LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $49,000. Robertson Stephens Wealth Management LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $56,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $57,000. Institutional investors and hedge funds own 49.17% of the company's stock.

Lithium Americas (Argentina) Stock Up 2.9%

Shares of NYSE LAR traded up $0.09 during trading on Friday, reaching $3.23. The company had a trading volume of 306,429 shares, compared to its average volume of 1,142,818. The company's fifty day moving average price is $2.62 and its 200-day moving average price is $2.30. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $3.96. The stock has a market cap of $522.94 million and a P/E ratio of -29.36.

Analyst Ratings Changes

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

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.