Lithium Americas (Argentina) (NYSE:LAAC) Shares Gap Up – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price gapped up prior to trading on Friday . The stock had previously closed at $3.30, but opened at $3.40. Lithium Americas (Argentina) shares last traded at $3.39, with a volume of 286,842 shares changing hands.

Analyst Ratings Changes

Several research firms recently issued reports on LAAC. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average target price of $7.05.

Lithium Americas (Argentina) Stock Performance

The firm has a market capitalization of $550.56 million, a PE ratio of 0.42 and a beta of 1.33. The company has a fifty day moving average price of $3.33 and a 200-day moving average price of $3.31.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently bought and sold shares of the business. Tidal Investments LLC increased its holdings in shares of Lithium Americas (Argentina) by 37.1% in the 3rd quarter. Tidal Investments LLC now owns 350,534 shares of the company’s stock worth $1,143,000 after buying an additional 94,775 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Lithium Americas (Argentina) during the third quarter worth approximately $40,000. Virtu Financial LLC purchased a new stake in Lithium Americas (Argentina) during the third quarter valued at approximately $317,000. Barclays PLC lifted its stake in shares of Lithium Americas (Argentina) by 30.1% in the 3rd quarter. Barclays PLC now owns 92,438 shares of the company’s stock valued at $301,000 after purchasing an additional 21,388 shares during the last quarter. Finally, McCarthy Asset Management Inc. purchased a new position in shares of Lithium Americas (Argentina) in the 3rd quarter worth approximately $49,000. 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.