Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Down 4.2%

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) dropped 4.2% on Monday . The stock traded as low as $4.79 and last traded at $4.79. Approximately 513,044 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 1,703,219 shares. The stock had previously closed at $5.00.

Wall Street Analysts Forecast Growth

LAAC has been the topic of several research analyst reports. 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 report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, BMO Capital Markets reduced their price target on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Price Performance

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 $4.94 and its 200 day simple moving average is $5.41. The firm has a market capitalization of $815.10 million, a P/E ratio of 0.63 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Sell-side analysts forecast that Lithium Americas will post 0.47 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors have recently made changes to their positions in the stock. Teamwork Financial Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $54,000. Mather Group LLC. purchased a new stake in Lithium Americas (Argentina) in the first quarter worth $27,000. Scarborough Advisors LLC purchased a new stake in Lithium Americas (Argentina) in the fourth quarter worth $53,000. HITE Hedge Asset Management LLC purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at $298,000. Finally, Black Maple Capital Management LP purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at $158,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.