CenterBook Partners LP Cuts Holdings in Lithium Americas (Argentina) Corp. $LAR

CenterBook Partners LP decreased its stake in shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) by 70.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,231,844 shares of the company’s stock after selling 2,968,394 shares during the period. CenterBook Partners LP’s holdings in Lithium Americas (Argentina) were worth $6,874,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in Lithium Americas (Argentina) by 119.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after purchasing an additional 5,219,416 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in Lithium Americas (Argentina) during the 3rd quarter worth about $481,000. Quantbot Technologies LP increased its holdings in Lithium Americas (Argentina) by 347.3% during the 3rd quarter. Quantbot Technologies LP now owns 196,265 shares of the company’s stock worth $656,000 after purchasing an additional 152,386 shares during the period. FNY Investment Advisers LLC purchased a new stake in Lithium Americas (Argentina) during the 4th quarter worth about $553,000. Finally, GF Fund Management CO. LTD. purchased a new stake in Lithium Americas (Argentina) during the 4th quarter worth about $446,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LAR. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Scotiabank upped their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Zacks Research upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, TD Securities increased their price objective on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $8.13.

Lithium Americas (Argentina) Stock Performance

LAR opened at $8.62 on Monday. Lithium Americas has a one year low of $1.90 and a one year high of $12.05. The company has a market cap of $1.40 billion and a P/E ratio of -22.67. The business’s 50-day simple moving average is $9.16 and its 200-day simple moving average is $7.45.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, analysts predict that Lithium Americas will post 0.29 earnings per share for the current fiscal year.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.