Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives $8.21 Average Price Target from Analysts

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been given an average recommendation of “Moderate Buy” by the nine brokerages that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $8.21.

A number of equities analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Scotiabank lowered their price target 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 Global Res raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, National Bankshares set a $6.00 target price on Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research report on Thursday, June 6th.

Lithium Americas (Argentina) Trading Down 5.0 %

NYSE LAAC opened at $2.48 on Friday. The stock has a market capitalization of $399.85 million, a price-to-earnings ratio of 0.31 and a beta of 1.32. The business’s 50 day moving average is $2.68 and its two-hundred day moving average is $3.92. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02).

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mather Group LLC. acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter worth approximately $27,000. Fairscale Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth $31,000. Fifth Third Bancorp increased its holdings 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 worth $32,000 after buying 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 2nd quarter worth $35,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Lithium Americas (Argentina) during the second quarter worth about $36,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.