Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Average Recommendation of “Hold” from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have earned an average rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $8.83.

Several brokerages have recently commented on LAAC. Stifel Nicolaus decreased their price objective on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock 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, June 6th. BMO Capital Markets decreased their price objective on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Scotiabank upgraded 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 report on Friday, March 22nd. Finally, National Bank Financial upgraded shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently made changes to their positions in the business. General Motors Holdings LLC purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth $80,862,000. FIFTHDELTA Ltd purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth $32,598,000. Vanguard Group Inc. grew its stake in shares of Lithium Americas (Argentina) by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock worth $19,191,000 after buying an additional 21,456 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth $15,763,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth $15,303,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Trading Down 5.8 %

LAAC opened at $3.58 on Wednesday. Lithium Americas has a 1-year low of $3.55 and a 1-year high of $8.79. The company has a market capitalization of $577.13 million, a PE ratio of 0.45 and a beta of 1.37. The firm’s 50 day simple moving average is $4.79 and its two-hundred day simple moving average is $5.03.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.06) 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) EPS. Equities analysts forecast that Lithium Americas will post 0.15 earnings per share for the current fiscal year.

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.