Lithium Americas (Argentina) (NYSE:LAAC) Trading Down 5.2%

Lithium Americas (Argentina) Corp. (NYSE:LAAC) dropped 5.2% during trading on Tuesday . The company traded as low as $5.05 and last traded at $5.06. Approximately 242,997 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,661,486 shares. The stock had previously closed at $5.34.

Analyst Ratings Changes

LAAC has been the topic of a number of recent analyst reports. BMO Capital Markets dropped 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 report on Friday, March 22nd. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price on the stock in a research report 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 target price for the company from $9.00 to $6.50 in a research report on Thursday, January 11th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and an average price target of $10.70.

Lithium Americas (Argentina) Stock Performance

The stock has a market cap of $816.78 million, a price-to-earnings ratio of 0.63 and a beta of 1.33. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.24. The stock’s 50 day moving average is $5.04 and its two-hundred day moving average is $5.33.

Lithium Americas (Argentina) (NYSE:LAAC) last released its earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. Analysts anticipate that Lithium Americas will post 0.42 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $32,000. Quent Capital LLC purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $34,000. RWC Asset Management LLP purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $5,741,000. Mackenzie Financial Corp purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $363,000. Finally, Intact Investment Management Inc. purchased a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $1,743,000. 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.