FIFTHDELTA Ltd Invests $32.60 Million in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

FIFTHDELTA Ltd bought a new stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,157,857 shares of the company’s stock, valued at approximately $32,598,000. Lithium Americas (Argentina) comprises approximately 5.0% of FIFTHDELTA Ltd’s portfolio, making the stock its 11th largest holding. FIFTHDELTA Ltd owned 3.21% of Lithium Americas (Argentina) as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LAAC. Van ECK Associates Corp acquired a new position in shares of Lithium Americas (Argentina) in the 4th quarter valued at $15,763,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at $15,303,000. RWC Asset Management LLP purchased a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth about $5,741,000. Panview Asian Equity Master Fund acquired a new position in Lithium Americas (Argentina) during the 4th quarter worth approximately $5,584,000. Finally, M&G Investment Management Ltd. acquired a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth approximately $3,655,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

LAAC stock traded up $0.07 during mid-day trading on Friday, hitting $4.54. 1,038,852 shares of the company were exchanged, compared to its average volume of 1,549,039. Lithium Americas has a 1-year low of $3.84 and a 1-year high of $8.79. The firm’s 50 day simple moving average is $5.11 and its 200 day simple moving average is $5.18. The firm has a market cap of $731.89 million, a P/E ratio of 0.56 and a beta of 1.33.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.10). During the same quarter last year, the company earned ($0.04) EPS. On average, equities research analysts predict that Lithium Americas will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on LAAC shares. Scotiabank upgraded shares of 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. Stifel Nicolaus cut their price target on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. Finally, BMO Capital Markets cut their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average target price of $9.40.

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.