Lithium Americas (Argentina) (NYSE:LAAC) Trading Up 3.9% – Still a Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price was up 3.9% during mid-day trading on Thursday . The stock traded as high as $3.17 and last traded at $3.16. Approximately 854,971 shares changed hands during mid-day trading, a decline of 43% from the average daily volume of 1,488,520 shares. The stock had previously closed at $3.04.

Lithium Americas (Argentina) Stock Down 2.2 %

The stock has a market cap of $498.74 million, a price-to-earnings ratio of 0.40 and a beta of 1.31. The company’s 50-day moving average is $3.36 and its 200-day moving average is $3.19.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Large investors have recently made changes to their positions in the company. General Motors Holdings LLC acquired a new position in Lithium Americas (Argentina) during the 3rd quarter worth about $48,907,000. William Blair Investment Management LLC bought a new position in Lithium Americas (Argentina) in the 2nd quarter worth approximately $10,465,000. Van ECK Associates Corp lifted its holdings in Lithium Americas (Argentina) by 16.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock worth $10,615,000 after buying an additional 426,419 shares in the last quarter. Decade Renewable Partners LP increased its stake in shares of Lithium Americas (Argentina) by 102.7% in the 2nd quarter. Decade Renewable Partners LP now owns 547,625 shares of the company’s stock valued at $1,752,000 after buying an additional 277,500 shares during the period. Finally, Intact Investment Management Inc. raised its position in shares of Lithium Americas (Argentina) by 47.3% during the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock worth $1,671,000 after acquiring an additional 163,800 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

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.