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

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

Several equities analysts recently commented on LAAC shares. Stifel Nicolaus dropped their target price on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. National Bankshares set a $6.00 target price on Lithium Americas (Argentina) and gave the company a “sector perform” rating in a report on Thursday, June 6th. 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 report on Thursday, August 15th. Finally, National Bank Financial raised Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. acquired a new stake in Lithium Americas (Argentina) in the fourth quarter valued at about $2,245,000. Private Advisor Group LLC acquired a new stake in Lithium Americas (Argentina) in the fourth quarter valued at about $152,000. M&G Plc acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at approximately $5,944,000. FIFTHDELTA Ltd acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter valued at approximately $32,598,000. Finally, Formidable Asset Management LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter valued at approximately $3,511,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Trading Up 1.8 %

Shares of NYSE LAAC opened at $2.76 on Monday. The stock has a market cap of $444.99 million, a P/E ratio of 0.35 and a beta of 1.35. Lithium Americas has a 12-month low of $2.26 and a 12-month high of $8.79. The business’s fifty day simple moving average is $2.99 and its 200-day simple moving average is $4.18.

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.