Lithium Americas (Argentina) Corp. (NYSE:LAAC) Given Consensus Rating of “Moderate Buy” by Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $8.21.

Several brokerages have recently weighed in on LAAC. Scotiabank decreased their target price on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Stifel Nicolaus cut their price target on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 21st. National Bankshares set a $6.00 price target on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a report on Thursday, June 6th. National Bank Financial raised shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Finally, Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th.

Lithium Americas (Argentina) Stock Performance

Shares of LAAC opened at $2.64 on Monday. Lithium Americas has a fifty-two week low of $2.26 and a fifty-two week high of $8.79. The company has a market capitalization of $425.81 million, a price-to-earnings ratio of 0.33 and a beta of 1.35. The firm has a 50-day simple moving average of $2.90 and a 200-day simple moving average of $4.13.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) in the 1st quarter valued at $27,000. Scarborough Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth $53,000. Fairscale Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth $31,000. Fifth Third Bancorp increased its holdings in shares of Lithium Americas (Argentina) by 67.9% during the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after buying an additional 4,000 shares during the last quarter. Finally, Teamwork Financial Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth $54,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.