Lithium Americas (Argentina) (NYSE:LAAC) Shares Gap Up – Time to Buy?

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) gapped up before the market opened on Friday . The stock had previously closed at $3.30, but opened at $3.40. Lithium Americas (Argentina) shares last traded at $3.39, with a volume of 286,842 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LAAC. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Scotiabank decreased their price objective on shares of 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. 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, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Lithium Americas (Argentina) Trading Up 3.0 %

The company has a market capitalization of $550.56 million, a PE ratio of 0.42 and a beta of 1.33. The firm’s 50-day simple moving average is $3.33 and its 200-day simple moving average is $3.31.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its position in Lithium Americas (Argentina) by 37.1% during the 3rd quarter. Tidal Investments LLC now owns 350,534 shares of the company’s stock valued at $1,143,000 after purchasing an additional 94,775 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lithium Americas (Argentina) during the 3rd quarter worth $40,000. Virtu Financial LLC purchased a new position in shares of Lithium Americas (Argentina) during the third quarter valued at $317,000. Barclays PLC raised its holdings in shares of 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 acquiring an additional 21,388 shares in the last quarter. Finally, McCarthy Asset Management Inc. purchased a new stake in Lithium Americas (Argentina) in the third quarter worth about $49,000. Institutional investors own 49.17% of the company’s stock.

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.