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

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.05.

LAAC has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note 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 note on Thursday, August 15th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several large investors have recently modified their holdings of the stock. Barclays PLC lifted its position in Lithium Americas (Argentina) by 30.1% in the third 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 period. Public Employees Retirement System of Ohio purchased a new stake in shares of Lithium Americas (Argentina) in the third quarter valued at approximately $120,000. XTX Topco Ltd purchased a new position in Lithium Americas (Argentina) in the third quarter worth $54,000. Apollon Wealth Management LLC boosted its position in shares of Lithium Americas (Argentina) by 25.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock worth $93,000 after purchasing an additional 5,870 shares in the last quarter. Finally, General Motors Holdings LLC purchased a new stake in Lithium Americas (Argentina) during the third quarter worth about $48,907,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

Shares of LAAC opened at $3.06 on Friday. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $6.69. The stock has a market capitalization of $495.51 million, a PE ratio of 0.39 and a beta of 1.33. The stock has a 50-day simple moving average of $3.17 and a 200-day simple moving average of $3.45.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). Analysts predict that Lithium Americas will post -0.06 EPS for the current year.

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.