Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have received an average rating of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.40.

A number of research analysts recently issued reports on LAAC shares. BMO Capital Markets decreased their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Stifel Nicolaus dropped their price target on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a report on Tuesday. Finally, 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 research note on Friday, March 22nd.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $4.72 on Friday. Lithium Americas has a 52 week low of $3.84 and a 52 week high of $8.79. The firm has a market cap of $760.39 million, a P/E ratio of 0.59 and a beta of 1.33. The business’s fifty day moving average is $5.14 and its two-hundred day moving average is $5.22.

Lithium Americas (Argentina) (NYSE:LAAC) last released its earnings results on Monday, May 13th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.10). During the same quarter in the previous year, the business earned ($0.04) earnings per share. On average, equities research analysts predict that Lithium Americas will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $27,000. Allworth Financial LP purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $32,000. Quent Capital LLC purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth $34,000. Fifth Third Bancorp purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth $53,000. Finally, Scarborough Advisors LLC bought a new position in Lithium Americas (Argentina) in the fourth quarter valued at $53,000. 49.17% of the stock is owned by institutional investors and hedge funds.

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.