Lithium Americas (Argentina) (NYSE:LAAC) Stock Rating Upgraded by HSBC

HSBC upgraded shares of Lithium Americas (Argentina) (NYSE:LAAC) from a hold rating to a buy rating in a research report report published on Wednesday morning, Marketbeat.com reports.

LAAC has been the subject of a number of other research reports. National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the stock a sector perform rating in a report on Thursday, June 6th. Stifel Nicolaus dropped their price objective 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. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) to a hold rating in a research note on Wednesday, June 5th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $8.21.

Lithium Americas (Argentina) Trading Up 6.0 %

Shares of NYSE:LAAC opened at $2.63 on Wednesday. The firm has a 50 day moving average of $3.12 and a 200-day moving average of $4.23. Lithium Americas has a 12 month low of $2.26 and a 12 month high of $8.79. The stock has a market capitalization of $424.03 million, a PE ratio of 0.33 and a beta of 1.35.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently added to or reduced their stakes in LAAC. International Assets Investment Management LLC bought a new position in shares of Lithium Americas (Argentina) during the fourth quarter valued at $69,000. Mackenzie Financial Corp acquired a new position in Lithium Americas (Argentina) during the 4th quarter worth about $363,000. Flputnam Investment Management Co. bought a new stake in shares of Lithium Americas (Argentina) in the 4th quarter valued at about $136,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Lithium Americas (Argentina) in the 4th quarter valued at about $254,000. Finally, Panview Asian Equity Master Fund acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $5,584,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.