Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $8.21.

A number of brokerages have recently issued reports on LAAC. National Bank Financial raised Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Scotiabank dropped 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 report on Thursday, August 15th. National Bankshares set a $6.00 price objective on shares of Lithium Americas (Argentina) and gave the company a “sector perform” rating in a report on Thursday, June 6th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. Finally, HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th.

Lithium Americas (Argentina) Stock Performance

Shares of Lithium Americas (Argentina) stock opened at $3.29 on Friday. The company has a 50-day simple moving average of $2.65 and a two-hundred day simple moving average of $3.87. The stock has a market capitalization of $529.64 million, a PE ratio of 0.41 and a beta of 1.32. Lithium Americas has a 52-week low of $2.07 and a 52-week high of $8.79.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new position in Lithium Americas (Argentina) during the first quarter valued at $27,000. Scarborough Advisors LLC bought a new position in shares of Lithium Americas (Argentina) during the 4th quarter valued at approximately $53,000. Fairscale Capital LLC purchased a new stake in Lithium Americas (Argentina) in the 2nd quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in Lithium Americas (Argentina) by 67.9% during the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after acquiring an additional 4,000 shares during the period. Finally, Teamwork Financial Advisors LLC purchased a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $54,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.