Lithium Americas (Argentina) Corp. (NYSE:LAAC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $7.19.

Separately, Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a report on Monday, January 20th.

Lithium Americas (Argentina) Stock Down 0.9 %

Shares of NYSE LAAC opened at $2.77 on Tuesday. The firm’s 50-day moving average price is $3.00 and its 200-day moving average price is $2.99. Lithium Americas has a 52-week low of $2.07 and a 52-week high of $5.79. The company has a market cap of $447.74 million, a PE ratio of 0.35 and a beta of 1.35.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the business. Fairscale Capital LLC purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter worth $31,000. Legacy Capital Group California Inc. bought a new position in Lithium Americas (Argentina) in the 3rd quarter worth $36,000. Vanguard Personalized Indexing Management LLC bought a new position in Lithium Americas (Argentina) in the 2nd quarter worth $36,000. Ping Capital Management Inc. lifted its position in Lithium Americas (Argentina) by 36.4% during the fourth quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock valued at $39,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Lithium Americas (Argentina) during the third quarter valued at about $40,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.