Lithium Americas (Argentina) Corp. (NYSE:LAAC) Given Average Rating of “Moderate Buy” by Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has received a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.05.

Several equities analysts have issued reports on LAAC shares. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Scotiabank dropped their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently modified their holdings of the company. Fairscale Capital LLC purchased a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at approximately $31,000. Fifth Third Bancorp lifted its stake in Lithium Americas (Argentina) by 67.9% in 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 in the last quarter. Ping Capital Management Inc. purchased a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at approximately $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at approximately $36,000. Finally, Legacy Capital Group California Inc. purchased a new stake in Lithium Americas (Argentina) in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Up 0.5 %

Shares of LAAC stock opened at $3.23 on Friday. The stock has a market capitalization of $522.18 million, a PE ratio of 0.41 and a beta of 1.33. Lithium Americas has a 52-week low of $2.07 and a 52-week high of $6.69. The stock’s 50-day moving average price is $3.15 and its 200 day moving average price is $3.45.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Analysts expect that Lithium Americas will post -0.06 earnings per share for the current fiscal year.

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.