Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) Price Target at $7.42

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $7.42.

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

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of large investors have recently modified their holdings of LAAC. Sanctuary Advisors LLC acquired a new stake in Lithium Americas (Argentina) in the third quarter valued at $40,000. Mariner LLC acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $32,000. Banco Santander S.A. acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $37,000. Ping Capital Management Inc. boosted its stake in shares of Lithium Americas (Argentina) by 36.4% during the 4th quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock worth $39,000 after acquiring an additional 4,000 shares during the period. Finally, McCarthy Asset Management Inc. acquired a new position in shares of Lithium Americas (Argentina) during the 3rd quarter worth approximately $49,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

NYSE LAAC opened at $2.08 on Friday. The stock’s 50-day moving average is $2.28 and its 200-day moving average is $2.84. Lithium Americas has a one year low of $2.07 and a one year high of $5.68. The firm has a market cap of $336.82 million, a P/E ratio of 0.27 and a beta of 1.35.

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.