Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives $10.70 Average Price Target from Analysts

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $10.70.

Several equities research analysts recently issued reports on LAAC shares. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price objective on the stock in a report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $6.50 in a research note on Thursday, January 11th. Finally, BMO Capital Markets decreased their target price on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd.

Lithium Americas (Argentina) Stock Down 0.6 %

NYSE:LAAC opened at $5.60 on Friday. Lithium Americas has a 52 week low of $3.84 and a 52 week high of $8.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. The firm has a market cap of $899.51 million, a PE ratio of 0.70 and a beta of 1.31. The company’s 50-day simple moving average is $4.68.

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP acquired a new position in shares of Lithium Americas (Argentina) in the fourth quarter worth $32,000. Quent Capital LLC acquired a new position in shares of Lithium Americas (Argentina) in the fourth quarter worth $34,000. Shell Asset Management Co. acquired a new position in shares of Lithium Americas (Argentina) in the fourth quarter worth $42,000. Fifth Third Bancorp acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $53,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $53,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.