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

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $7.19.

Separately, Cormark upgraded Lithium Americas (Argentina) to a “moderate buy” rating in a report on Monday, January 20th.

Lithium Americas (Argentina) Trading Down 3.4 %

NYSE:LAAC opened at $2.55 on Friday. The business’s fifty day moving average price is $2.76 and its 200 day moving average price is $2.93. The firm has a market capitalization of $412.93 million, a price-to-earnings ratio of 0.33 and a beta of 1.35. Lithium Americas has a 1-year low of $2.07 and a 1-year high of $5.79.

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently modified their holdings of LAAC. General Motors Holdings LLC purchased a new position in Lithium Americas (Argentina) in the third quarter valued at about $48,907,000. Intact Investment Management Inc. grew its stake in shares of Lithium Americas (Argentina) by 47.3% in the 3rd quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock valued at $1,671,000 after buying an additional 163,800 shares in the last quarter. Van ECK Associates Corp increased its holdings in Lithium Americas (Argentina) by 16.3% in the third quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock worth $10,615,000 after buying an additional 426,419 shares during the last quarter. Barclays PLC raised its position in Lithium Americas (Argentina) by 30.1% during 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, Geode Capital Management LLC lifted its stake in Lithium Americas (Argentina) by 37.1% in the third quarter. Geode Capital Management LLC now owns 65,252 shares of the company’s stock valued at $214,000 after acquiring an additional 17,649 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.