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

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAACGet Free Report) have earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $9.40.

A number of analysts have recently issued reports on LAAC shares. Stifel Nicolaus lowered their price objective on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday. BMO Capital Markets lowered their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research report on Friday, March 22nd. Finally, Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target on the stock in a research note on Friday, March 22nd.

Read Our Latest Stock Report on Lithium Americas (Argentina)

Lithium Americas (Argentina) Stock Down 3.2 %

Shares of NYSE LAAC opened at $4.85 on Friday. The business’s 50 day moving average is $5.16 and its two-hundred day moving average is $5.23. The company has a market cap of $781.34 million, a P/E ratio of 0.61 and a beta of 1.33. Lithium Americas has a 12 month low of $3.84 and a 12 month high of $8.79.

Lithium Americas (Argentina) (NYSE:LAACGet Free Report) last released its quarterly earnings data on Monday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same quarter last year, the company posted ($0.04) earnings per share. Sell-side analysts expect that Lithium Americas will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tidal Investments LLC boosted its stake in Lithium Americas (Argentina) by 161.5% in the first quarter. Tidal Investments LLC now owns 259,542 shares of the company’s stock worth $1,361,000 after purchasing an additional 160,290 shares in the last quarter. General Motors Holdings LLC acquired a new position in Lithium Americas (Argentina) in the first quarter worth $80,862,000. Vanguard Group Inc. boosted its stake in Lithium Americas (Argentina) by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock worth $19,191,000 after purchasing an additional 21,456 shares in the last quarter. M&G Plc acquired a new position in Lithium Americas (Argentina) in the first quarter worth $5,944,000. Finally, Russell Investments Group Ltd. raised its position in shares of Lithium Americas (Argentina) by 61.6% during the first quarter. Russell Investments Group Ltd. now owns 301,856 shares of the company’s stock worth $1,627,000 after acquiring an additional 115,078 shares during the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

(Get Free Report

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.

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Analyst Recommendations for Lithium Americas (Argentina) (NYSE:LAAC)

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