Lithium Americas (Argentina) (NYSE:LAAC) Given New $4.25 Price Target at Scotiabank

Lithium Americas (Argentina) (NYSE:LAAC) had its price target lowered by Scotiabank from $8.00 to $4.25 in a report published on Thursday morning, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. HSBC raised Lithium Americas (Argentina) from a hold rating to a buy rating in a report on Wednesday. Stifel Nicolaus reduced their target price 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. National Bank Financial upgraded shares of Lithium Americas (Argentina) to a hold rating in a research report on Wednesday, June 5th. Finally, National Bankshares set a $6.00 price target on shares of Lithium Americas (Argentina) and gave the company a sector perform rating in a research report on Thursday, June 6th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $8.21.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAAC traded up $0.09 during trading hours on Thursday, hitting $2.57. 794,767 shares of the stock were exchanged, compared to its average volume of 1,470,504. Lithium Americas has a one year low of $2.26 and a one year high of $8.79. The company’s 50 day moving average is $3.15 and its 200 day moving average is $4.25. The firm has a market capitalization of $414.36 million, a P/E ratio of 0.33 and a beta of 1.35.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.10). During the same quarter in the previous year, the company posted ($0.04) earnings per share. Research analysts anticipate that Lithium Americas will post 0.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors have recently modified their holdings of the stock. General Motors Holdings LLC acquired a new position in shares of Lithium Americas (Argentina) during the first quarter valued at $80,862,000. FIFTHDELTA Ltd acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $32,598,000. William Blair Investment Management LLC bought a new stake in shares of Lithium Americas (Argentina) during the second quarter worth approximately $10,465,000. Van ECK Associates Corp acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $15,763,000. Finally, M&G Plc bought a new position in Lithium Americas (Argentina) in the first quarter valued at approximately $5,944,000. 49.17% of the stock is owned by institutional investors.

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.