Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Average Rating of “Hold” from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has been assigned an average rating of “Hold” from the seven research firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $8.83.

A number of research firms have recently weighed in on LAAC. National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. Stifel Nicolaus dropped their price objective on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. BMO Capital Markets decreased their target price on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target on the stock in a research report on Friday, March 22nd. Finally, National Bank Financial upgraded Lithium Americas (Argentina) to a “hold” rating in a research note on Wednesday, June 5th.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently added to or reduced their stakes in the company. Dynamic Advisor Solutions LLC bought a new stake in shares of Lithium Americas (Argentina) in the 4th quarter worth $281,000. FNY Investment Advisers LLC bought a new stake in Lithium Americas (Argentina) in the 4th quarter worth about $62,000. Mutual Advisors LLC purchased a new position in Lithium Americas (Argentina) in the 4th quarter worth about $306,000. Quent Capital LLC bought a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $34,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Lithium Americas (Argentina) during the 4th quarter valued at about $53,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $3.25 on Friday. Lithium Americas has a fifty-two week low of $2.90 and a fifty-two week high of $8.79. The stock’s 50 day simple moving average is $4.15 and its two-hundred day simple moving average is $4.74. The stock has a market cap of $523.93 million, a price-to-earnings ratio of 0.41 and a beta of 1.35.

Lithium Americas (Argentina) (NYSE:LAAC) last released its quarterly 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 prior year, the company posted ($0.04) earnings per share. On average, analysts predict that Lithium Americas will post 0.15 earnings per share 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.