Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) Price Target at $8.83

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $8.83.

A number of research firms have recently commented on LAAC. National Bank Financial raised shares of Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. National Bankshares set a $6.00 price objective on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research report on Thursday, June 6th. Finally, Stifel Nicolaus dropped their target price on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 21st.

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $53,000. International Assets Investment Management LLC purchased a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at $69,000. Allworth Financial LP purchased a new position in Lithium Americas (Argentina) during the fourth quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $15,303,000. Finally, Ingalls & Snyder LLC bought a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $160,000. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Trading Down 5.4 %

Shares of Lithium Americas (Argentina) stock opened at $2.46 on Thursday. The stock has a 50-day moving average price of $3.51 and a 200 day moving average price of $4.39. The company has a market cap of $396.63 million, a P/E ratio of 0.31 and a beta of 1.35. Lithium Americas has a 1 year low of $2.27 and a 1 year high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC) last issued 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 last year, the business earned ($0.04) earnings per share. On average, equities analysts forecast that Lithium Americas will post 0.07 earnings per share for the current fiscal year.

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.