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

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has received a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.83.

LAAC has been the topic of several recent research reports. 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 shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Scotiabank raised 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. BMO Capital Markets reduced their price target on 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. Finally, Stifel Nicolaus dropped their price objective on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 21st.

Lithium Americas (Argentina) Price Performance

LAAC stock opened at $3.25 on Friday. The stock has a market capitalization of $523.93 million, a PE ratio of 0.41 and a beta of 1.35. The company has a 50 day moving average price of $4.15 and a 200 day moving average price of $4.74. Lithium Americas has a fifty-two week low of $2.90 and a fifty-two week high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC) last released its earnings results on Monday, May 13th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same period in the prior year, the company posted ($0.04) earnings per share. As a group, equities analysts expect that Lithium Americas will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds have recently added to or reduced their stakes in LAAC. Boston Partners increased its holdings in shares of Lithium Americas (Argentina) by 62.6% in the first quarter. Boston Partners now owns 99,669 shares of the company’s stock worth $537,000 after acquiring an additional 38,374 shares in the last quarter. Tidal Investments LLC increased its stake in Lithium Americas (Argentina) by 161.5% during the 1st quarter. Tidal Investments LLC now owns 259,542 shares of the company’s stock worth $1,361,000 after purchasing an additional 160,290 shares in the last quarter. General Motors Holdings LLC acquired a new stake in Lithium Americas (Argentina) during the 1st quarter worth approximately $80,862,000. Vanguard Group Inc. lifted its stake in Lithium Americas (Argentina) by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock valued at $19,191,000 after buying an additional 21,456 shares in the last quarter. Finally, M&G Plc bought a new position in Lithium Americas (Argentina) in the first quarter valued at approximately $5,944,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.