Apollon Wealth Management LLC Grows Stake in Lithium Americas (Argentina) Corp. (NYSE:LAAC)

Apollon Wealth Management LLC boosted its position in Lithium Americas (Argentina) Corp. (NYSE:LAAC) by 25.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,607 shares of the company’s stock after purchasing an additional 5,870 shares during the period. Apollon Wealth Management LLC’s holdings in Lithium Americas (Argentina) were worth $93,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LAAC. Fairscale Capital LLC acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter valued at $31,000. Fifth Third Bancorp boosted its holdings in shares of Lithium Americas (Argentina) by 67.9% during the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after purchasing an additional 4,000 shares during the last quarter. Ping Capital Management Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the second quarter worth $35,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Lithium Americas (Argentina) during the second quarter worth $36,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the third quarter worth $36,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

NYSE:LAAC opened at $3.11 on Tuesday. The business’s 50-day moving average is $3.18 and its two-hundred day moving average is $3.41. Lithium Americas has a 12 month low of $2.07 and a 12 month high of $6.69. The firm has a market capitalization of $503.60 million, a PE ratio of 0.40 and a beta of 1.33.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LAAC. Scotiabank decreased their price objective on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.05.

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.