Mirae Asset Global Investments Co. Ltd. Purchases New Position in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,416,529 shares of the company's stock, valued at approximately $15,303,000. Mirae Asset Global Investments Co. Ltd. owned 1.50% of Lithium Americas (Argentina) as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quent Capital LLC purchased a new stake in Lithium Americas (Argentina) during the fourth quarter worth $34,000. Mutual Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $306,000. Dynamic Advisor Solutions LLC acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $281,000. Fifth Third Bancorp acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $53,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $62,000. Hedge funds and other institutional investors own 49.17% of the company's stock.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE LAAC traded up $0.02 during mid-day trading on Thursday, hitting $5.58. The stock had a trading volume of 1,046,550 shares, compared to its average volume of 1,748,246. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.16 and a current ratio of 9.16. The stock's 50 day moving average price is $4.79. Lithium Americas has a twelve month low of $3.84 and a twelve month high of $8.79. The stock has a market cap of $897.11 million, a price-to-earnings ratio of 0.70 and a beta of 1.31.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LAAC shares. Scotiabank raised Lithium Americas (Argentina) from a "sector perform" rating to a "sector outperform" rating and set a $8.00 price target on the stock in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft downgraded Lithium Americas (Argentina) from a "buy" rating to a "hold" rating and reduced their price target for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, BMO Capital Markets reduced their price target on Lithium Americas (Argentina) from $7.00 to $6.50 and set a "market perform" rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.70.

Lithium Americas (Argentina) Profile

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.