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

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $7.19.

Separately, Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a research report on Monday, January 20th.

Lithium Americas (Argentina) Price Performance

Shares of LAAC stock opened at $2.23 on Wednesday. Lithium Americas has a 1-year low of $2.07 and a 1-year high of $5.79. The stock’s 50-day moving average is $2.59 and its 200 day moving average is $2.90. The company has a market cap of $361.11 million, a P/E ratio of 0.29 and a beta of 1.35.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently added to or reduced their stakes in LAAC. Mariner LLC acquired a new stake in Lithium Americas (Argentina) in the fourth quarter worth about $32,000. Banco Santander S.A. acquired a new stake in Lithium Americas (Argentina) in the fourth quarter worth about $37,000. Ping Capital Management Inc. boosted its holdings in Lithium Americas (Argentina) by 36.4% in the fourth quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock worth $39,000 after acquiring an additional 4,000 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Lithium Americas (Argentina) in the third quarter worth about $40,000. Finally, McCarthy Asset Management Inc. acquired a new stake in Lithium Americas (Argentina) in the third quarter worth about $49,000. 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.