Lithium Americas (Argentina) Corp. (NYSE:LAAC) Short Interest Update

Lithium Americas (Argentina) Corp. (NYSE:LAAC) was the target of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 11,540,000 shares, an increase of 9.0% from the July 31st total of 10,590,000 shares. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is currently 9.0 days. Approximately 8.5% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. National Bankshares set a $6.00 price target on shares of Lithium Americas (Argentina) and gave the company a “sector perform” rating in a research note on Thursday, June 6th. Stifel Nicolaus cut their target price on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a research note on Thursday, August 15th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.21.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently modified their holdings of LAAC. Fifth Third Bancorp raised its position in Lithium Americas (Argentina) by 67.9% in the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after purchasing an additional 4,000 shares during the period. TD Asset Management Inc raised its holdings in Lithium Americas (Argentina) by 3.5% in the 2nd quarter. TD Asset Management Inc now owns 122,775 shares of the company’s stock valued at $391,000 after buying an additional 4,173 shares during the period. Mather Group LLC. purchased a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $27,000. Old West Investment Management LLC lifted its position in Lithium Americas (Argentina) by 18.2% in the second quarter. Old West Investment Management LLC now owns 33,386 shares of the company’s stock valued at $107,000 after buying an additional 5,140 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Lithium Americas (Argentina) by 8.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock worth $216,000 after buying an additional 5,503 shares during the period. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAAC opened at $2.64 on Tuesday. Lithium Americas has a 52-week low of $2.26 and a 52-week high of $8.79. The business has a fifty day moving average of $2.88 and a two-hundred day moving average of $4.12. The stock has a market cap of $425.81 million, a P/E ratio of 0.33 and a beta of 1.35.

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.