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Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Up 6.3% - Here's What Happened

Lithium Americas (Argentina) logo with Basic Materials background

Key Points

  • Lithium Americas (Argentina) stock saw a rise of 6.3%, trading at $3.21 after a previous close of $3.02 on Tuesday.
  • An institutional investor, Point72 Asset Management L.P., increased its stake in the company by 76.2%, owning approximately 0.27% of the total shares.
  • The company focuses on lithium exploration and owns interests in projects including the Cauchari-Olaroz project in Jujuy province, Argentina.
  • MarketBeat previews the top five stocks to own by October 1st.

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) traded up 6.3% on Tuesday . The company traded as high as $3.23 and last traded at $3.21. 1,984,965 shares traded 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 $3.02.

Lithium Americas (Argentina) Price Performance

The company has a market cap of $519.80 million, a price-to-earnings ratio of 0.41 and a beta of 1.35. The company's 50-day simple moving average is $3.02 and its 200-day simple moving average is $2.39.

Hedge Funds Weigh In On Lithium Americas (Argentina)

An institutional investor recently raised its position in Lithium Americas (Argentina) stock. Point72 Asset Management L.P. lifted its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) by 76.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 432,813 shares of the company's stock after buying an additional 187,183 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.27% of Lithium Americas (Argentina) worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

About Lithium Americas (Argentina)

(Get Free Report)

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.

Further Reading

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