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

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been assigned a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $8.21.

A number of equities research analysts recently weighed in on the stock. Scotiabank lowered their price objective on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. National Bank Financial raised shares of Lithium Americas (Argentina) to a “hold” rating in a research report on Wednesday, June 5th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research report on Thursday, June 6th.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its stake in shares of Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after acquiring an additional 4,000 shares during the period. TD Asset Management Inc lifted its stake in Lithium Americas (Argentina) by 3.5% during the second quarter. TD Asset Management Inc now owns 122,775 shares of the company’s stock valued at $391,000 after purchasing an additional 4,173 shares during the last quarter. Mather Group LLC. acquired a new stake in Lithium Americas (Argentina) during the first quarter valued at approximately $27,000. Old West Investment Management LLC lifted its stake in Lithium Americas (Argentina) by 18.2% during the second quarter. Old West Investment Management LLC now owns 33,386 shares of the company’s stock valued at $107,000 after purchasing an additional 5,140 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in Lithium Americas (Argentina) by 8.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock valued at $216,000 after purchasing an additional 5,503 shares during the last quarter. 49.17% of the stock is owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Stock Up 1.8 %

Shares of NYSE:LAAC opened at $2.76 on Monday. Lithium Americas has a fifty-two week low of $2.26 and a fifty-two week high of $8.79. The firm has a 50-day simple moving average of $2.99 and a 200 day simple moving average of $4.18. The company has a market cap of $444.99 million, a PE ratio of 0.35 and a beta of 1.35.

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.