Analysts Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) Target Price at $8.21

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has been given an average rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $8.21.

LAAC has been the subject of several analyst reports. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. National Bankshares set a $6.00 price objective on Lithium Americas (Argentina) and gave the company a “sector perform” rating in a research report on Thursday, June 6th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. National Bank Financial raised shares of Lithium Americas (Argentina) to a “hold” rating in a research note on Wednesday, June 5th. Finally, Scotiabank lowered their price objective 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.

Lithium Americas (Argentina) Price Performance

NYSE LAAC opened at $2.87 on Friday. The stock has a market capitalization of $462.73 million, a PE ratio of 0.36 and a beta of 1.32. Lithium Americas has a 1-year low of $2.07 and a 1-year high of $8.79. The business has a 50 day simple moving average of $2.65 and a two-hundred day simple moving average of $3.88.

Lithium Americas (Argentina) (NYSE:LAAC) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02).

Institutional Trading of Lithium Americas (Argentina)

Institutional investors have recently made changes to their positions in the business. Swiss National Bank purchased a new stake in Lithium Americas (Argentina) in the fourth quarter valued at about $1,301,000. Private Advisor Group LLC acquired a new stake in Lithium Americas (Argentina) in the 4th quarter worth approximately $152,000. Avantax Advisory Services Inc. purchased a new stake in Lithium Americas (Argentina) during the 4th quarter worth approximately $159,000. Brown Advisory Inc. acquired a new position in Lithium Americas (Argentina) during the 4th quarter valued at approximately $634,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Lithium Americas (Argentina) in the fourth quarter worth $161,000. Institutional investors and hedge funds 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.