Lithium Americas (Argentina) Corp. (NYSE:LAAC) Short Interest Update

Lithium Americas (Argentina) Corp. (NYSE:LAAC) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totalling 8,750,000 shares, a drop of 9.5% from the March 15th total of 9,670,000 shares. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is currently 4.8 days. Approximately 7.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently made changes to their positions in LAAC. Mather Group LLC. acquired a new stake in shares of Lithium Americas (Argentina) during the first quarter worth $27,000. Allworth Financial LP acquired a new position in Lithium Americas (Argentina) during the fourth quarter valued at $32,000. Quent Capital LLC acquired a new position in Lithium Americas (Argentina) during the fourth quarter valued at $34,000. Shell Asset Management Co. acquired a new position in Lithium Americas (Argentina) during the fourth quarter valued at $42,000. Finally, Fifth Third Bancorp acquired a new position in Lithium Americas (Argentina) during the fourth quarter valued at $53,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LAAC. Scotiabank upgraded shares of 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 research note on Friday, March 22nd. BMO Capital Markets dropped their price objective 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $6.50 in a research note on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Stock Performance

LAAC traded down $0.12 during trading on Wednesday, hitting $5.07. The stock had a trading volume of 1,001,677 shares, compared to its average volume of 1,530,961. The stock has a market cap of $815.10 million, a P/E ratio of 0.63 and a beta of 1.31. Lithium Americas has a twelve month low of $3.84 and a twelve month high of $8.79. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $4.86.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.05. On average, equities research analysts anticipate that Lithium Americas will post 0.46 EPS for the current year.

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.