Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Down 7.6%

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAACGet Free Report) were down 7.6% on Wednesday . The stock traded as low as $4.23 and last traded at $4.24. Approximately 784,982 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,545,462 shares. The stock had previously closed at $4.59.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LAAC shares. BMO Capital Markets decreased their price target on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus decreased their price target on 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, Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Read Our Latest Stock Analysis on Lithium Americas (Argentina)

Lithium Americas (Argentina) Price Performance

The company has a market cap of $698.05 million, a PE ratio of 0.53 and a beta of 1.33. The business has a 50-day moving average of $5.13 and a 200 day moving average of $5.19.

Lithium Americas (Argentina) (NYSE:LAACGet Free Report) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, equities analysts predict that Lithium Americas will post 0.22 EPS for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds have recently bought and sold shares of LAAC. General Motors Holdings LLC bought a new stake in Lithium Americas (Argentina) during the first quarter valued at about $80,862,000. FIFTHDELTA Ltd bought a new stake in Lithium Americas (Argentina) during the fourth quarter valued at about $32,598,000. Van ECK Associates Corp bought a new stake in Lithium Americas (Argentina) during the fourth quarter valued at about $15,763,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lithium Americas (Argentina) in the fourth quarter worth about $15,303,000. Finally, M&G Plc bought a new position in shares of Lithium Americas (Argentina) in the first quarter worth about $5,944,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

(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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