Lithium Americas (Argentina) (NYSE:LAAC) Lifted to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of Lithium Americas (Argentina) (NYSE:LAAC) to a strong-buy rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

Other equities analysts have also issued reports about the company. Stifel Nicolaus lowered their price target on 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. Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a sector outperform rating on the stock in a research note on Thursday. National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the company a sector perform rating in a research note on Thursday, June 6th. National Bank Financial raised Lithium Americas (Argentina) to a hold rating in a report on Wednesday, June 5th. Finally, HSBC upgraded Lithium Americas (Argentina) from a hold rating to a buy rating in a research report on Wednesday. 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, the stock currently has an average rating of Moderate Buy and a consensus target price of $8.21.

Lithium Americas (Argentina) Trading Up 6.0 %

LAAC opened at $2.63 on Wednesday. Lithium Americas has a 1-year low of $2.26 and a 1-year high of $8.79. The business has a 50 day moving average of $3.12 and a 200-day moving average of $4.23. The stock has a market capitalization of $424.03 million, a price-to-earnings ratio of 0.33 and a beta of 1.35.

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after buying an additional 4,000 shares during the last quarter. TD Asset Management Inc boosted its stake in Lithium Americas (Argentina) by 3.5% in the second quarter. TD Asset Management Inc now owns 122,775 shares of the company’s stock valued at $391,000 after acquiring an additional 4,173 shares during the last quarter. Mather Group LLC. acquired a new stake in Lithium Americas (Argentina) during the 1st quarter worth $27,000. Old West Investment Management LLC lifted its stake in shares of Lithium Americas (Argentina) by 18.2% in the 2nd quarter. Old West Investment Management LLC now owns 33,386 shares of the company’s stock valued at $107,000 after purchasing an additional 5,140 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Lithium Americas (Argentina) by 8.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock worth $216,000 after purchasing an additional 5,503 shares during the last quarter. Institutional investors 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.