Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Average Recommendation of “Hold” from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAACGet Free Report) has received an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.83.

A number of analysts have issued reports on LAAC shares. Stifel Nicolaus lowered their target price on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. BMO Capital Markets reduced their price target on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. National Bank Financial upgraded shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Finally, Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price for the company in a research note on Friday, March 22nd.

Check Out Our Latest Research Report on LAAC

Lithium Americas (Argentina) Trading Down 2.5 %

Shares of Lithium Americas (Argentina) stock opened at $3.15 on Friday. Lithium Americas has a 1-year low of $3.01 and a 1-year high of $8.79. The firm has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $4.82. The stock has a market capitalization of $507.81 million, a price-to-earnings ratio of 0.39 and a beta of 1.35.

Lithium Americas (Argentina) (NYSE:LAACGet Free Report) last released its quarterly earnings results on Monday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same quarter in the prior year, the company posted ($0.04) EPS. As a group, research analysts predict that Lithium Americas will post 0.15 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Partners lifted its stake in Lithium Americas (Argentina) by 62.6% during the first quarter. Boston Partners now owns 99,669 shares of the company’s stock worth $537,000 after purchasing an additional 38,374 shares during the period. Tidal Investments LLC lifted its position in shares of Lithium Americas (Argentina) by 161.5% during the 1st quarter. Tidal Investments LLC now owns 259,542 shares of the company’s stock worth $1,361,000 after buying an additional 160,290 shares during the period. General Motors Holdings LLC acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $80,862,000. Vanguard Group Inc. grew its position in Lithium Americas (Argentina) by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock valued at $19,191,000 after acquiring an additional 21,456 shares during the period. Finally, M&G Plc acquired a new position in Lithium Americas (Argentina) during the first quarter worth $5,944,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Lithium Americas (Argentina) (NYSE:LAAC)

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