Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.21.

LAAC has been the subject of several analyst reports. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus decreased their price objective on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. National Bankshares set a $6.00 price objective on Lithium Americas (Argentina) and gave the company a “sector perform” rating in a report on Thursday, June 6th. National Bank Financial upgraded Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Finally, Scotiabank decreased their price objective on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a report on Thursday, August 15th.

Lithium Americas (Argentina) Trading Up 1.8 %

Shares of NYSE LAAC opened at $2.76 on Monday. Lithium Americas has a 12-month low of $2.26 and a 12-month high of $8.79. The stock’s fifty day simple moving average is $2.99 and its two-hundred day simple moving average is $4.18. The stock has a market capitalization of $444.99 million, a PE ratio of 0.35 and a beta of 1.35.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. purchased a new position in Lithium Americas (Argentina) in the 1st quarter worth $27,000. Scarborough Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the 4th quarter valued at about $53,000. Fairscale Capital LLC purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at about $31,000. Fifth Third Bancorp raised its stake in shares of Lithium Americas (Argentina) by 67.9% during the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after buying an additional 4,000 shares during the last quarter. Finally, Teamwork Financial Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the 1st quarter valued at about $54,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company 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.