Lithium Americas (Argentina) (NYSE:LAAC) Raised to Buy at HSBC

HSBC upgraded shares of Lithium Americas (Argentina) (NYSE:LAAC) from a hold rating to a buy rating in a research note released on Wednesday, MarketBeat Ratings reports.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus reduced their price objective 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. National Bank Financial upgraded shares of Lithium Americas (Argentina) to a hold rating in a research report on Wednesday, June 5th. Finally, 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. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $8.21.

Lithium Americas (Argentina) Trading Up 6.0 %

NYSE:LAAC opened at $2.63 on Wednesday. The stock has a market capitalization of $424.03 million, a P/E ratio of 0.33 and a beta of 1.35. Lithium Americas has a 1 year low of $2.26 and a 1 year high of $8.79. The firm has a 50 day moving average of $3.12 and a 200-day moving average of $4.23.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $27,000. Fairscale Capital LLC acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter worth $31,000. Fifth Third Bancorp raised its position in shares of Lithium Americas (Argentina) by 67.9% during the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after acquiring an additional 4,000 shares during the last quarter. Ping Capital Management Inc. acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $35,000. Finally, Vanguard Personalized Indexing Management LLC bought a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth $36,000. 49.17% of the stock is owned by institutional investors.

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.