Lithium Americas (Argentina) (NYSE:LAAC) Upgraded by National Bank Financial to Hold

National Bank Financial upgraded shares of Lithium Americas (Argentina) (NYSE:LAAC) to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

LAAC has been the topic of several other reports. Scotiabank raised shares of 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 note on Friday, March 22nd. Stifel Nicolaus reduced their price target on Lithium Americas (Argentina) from $18.50 to $12.00 and set a buy rating for the company in a research report on Tuesday, May 21st. National Bankshares set a $6.00 price objective on shares of Lithium Americas (Argentina) and gave the company a sector perform rating in a research report on Thursday. Finally, BMO Capital Markets cut their price target on Lithium Americas (Argentina) from $7.00 to $6.50 and set a market perform rating for the company in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of Hold and a consensus price target of $8.83.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $4.11 on Wednesday. The firm has a market cap of $662.57 million, a price-to-earnings ratio of 0.51 and a beta of 1.37. The stock has a 50-day simple moving average of $5.01 and a 200-day simple moving average of $5.12. Lithium Americas has a 52-week low of $3.84 and a 52-week high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its earnings results on Monday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same quarter last year, the business posted ($0.04) earnings per share. As a group, equities research analysts predict that Lithium Americas will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LAAC. Scotia Capital Inc. acquired a new position in Lithium Americas (Argentina) in the 4th quarter valued at approximately $2,245,000. Private Advisor Group LLC bought a new position in Lithium Americas (Argentina) during the 4th quarter worth $152,000. FIFTHDELTA Ltd acquired a new position in Lithium Americas (Argentina) during the 4th quarter worth about $32,598,000. Formidable Asset Management LLC acquired a new position in Lithium Americas (Argentina) during the 4th quarter worth about $3,511,000. Finally, Allworth Financial LP bought a new stake in shares of Lithium Americas (Argentina) in the 4th quarter valued at about $32,000. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Company Profile

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.