Lithium Americas (Argentina) (NYSE:LAAC) Upgraded to Strong-Buy by Hsbc Global Res

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

A number of other equities analysts have also recently issued reports on LAAC. Stifel Nicolaus cut 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. Scotiabank cut their price target on Lithium Americas (Argentina) from $8.00 to $4.25 and set a sector outperform rating on the stock in a report on Thursday. National Bankshares set a $6.00 price objective on Lithium Americas (Argentina) and gave the company a sector perform rating in a research note on Thursday, June 6th. HSBC raised Lithium Americas (Argentina) from a hold rating to a buy rating in a research report on Wednesday. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) to a hold rating in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $8.21.

Lithium Americas (Argentina) Stock Up 6.0 %

Shares of NYSE LAAC opened at $2.63 on Wednesday. The firm has a market cap of $424.03 million, a PE ratio of 0.33 and a beta of 1.35. The company’s fifty day simple moving average is $3.12 and its 200 day simple moving average is $4.23. Lithium Americas has a 12-month low of $2.26 and a 12-month high of $8.79.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $69,000. Mackenzie Financial Corp bought a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $363,000. Flputnam Investment Management Co. purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth approximately $136,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $254,000. Finally, Panview Asian Equity Master Fund bought a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $5,584,000. 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.