Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Average Recommendation of “Moderate Buy” from Analysts

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $7.05.

LAAC has been the topic of several research analyst reports. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Scotiabank reduced their price objective on 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) Trading Up 0.3 %

NYSE LAAC opened at $3.46 on Tuesday. The company has a market cap of $557.86 million, a P/E ratio of 0.43 and a beta of 1.33. The company has a fifty day simple moving average of $2.86 and a 200 day simple moving average of $3.64. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $6.69.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently added to or reduced their stakes in LAAC. Cubist Systematic Strategies LLC bought a new position in shares of Lithium Americas (Argentina) during the 2nd quarter worth approximately $102,000. Decade Renewable Partners LP raised its stake in Lithium Americas (Argentina) by 102.7% during the second quarter. Decade Renewable Partners LP now owns 547,625 shares of the company’s stock worth $1,752,000 after acquiring an additional 277,500 shares in the last quarter. Fairscale Capital LLC bought a new position in shares of Lithium Americas (Argentina) during the second quarter valued at $31,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $36,000. Finally, Mercer Global Advisors Inc. ADV grew its holdings in shares of Lithium Americas (Argentina) by 8.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock worth $216,000 after purchasing an additional 5,503 shares during the last quarter. 49.17% of the stock is owned by institutional investors and hedge funds.

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.