Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) fell 5.3% on Friday . The company traded as low as $2.69 and last traded at $2.70. 1,994,654 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 1,432,022 shares. The stock had previously closed at $2.85.
Lithium Americas (Argentina) Stock Down 1.1%
The stock has a market capitalization of $424.26 million, a price-to-earnings ratio of 0.34 and a beta of 1.35. The company has a 50 day simple moving average of $2.26 and a 200-day simple moving average of $2.27.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of LAAC. Point72 Asset Management L.P. grew its holdings in Lithium Americas (Argentina) by 76.2% during the fourth quarter. Point72 Asset Management L.P. now owns 432,813 shares of the company's stock worth $1,134,000 after buying an additional 187,183 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Lithium Americas (Argentina) by 64.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,207,350 shares of the company's stock valued at $11,058,000 after purchasing an additional 1,650,835 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Lithium Americas (Argentina) by 80.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 67,677 shares of the company's stock worth $177,000 after buying an additional 30,173 shares during the period. Credit Industriel ET Commercial bought a new position in shares of Lithium Americas (Argentina) in the fourth quarter worth $236,000. Finally, MYDA Advisors LLC purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $406,000. 49.17% of the stock is owned by institutional investors.
About Lithium Americas (Argentina)
(
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Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.
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