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

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $7.42.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LAAC. Point72 Asset Management L.P. lifted its holdings in shares of Lithium Americas (Argentina) by 76.2% in the 4th quarter. Point72 Asset Management L.P. now owns 432,813 shares of the company's stock worth $1,134,000 after acquiring an additional 187,183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Lithium Americas (Argentina) by 64.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,207,350 shares of the company's stock valued at $11,058,000 after purchasing an additional 1,650,835 shares during the period. Balyasny Asset Management L.P. lifted its stake in Lithium Americas (Argentina) by 80.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 67,677 shares of the company's stock worth $177,000 after purchasing an additional 30,173 shares in the last quarter. Credit Industriel ET Commercial acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth $236,000. Finally, MYDA Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth $406,000. Hedge funds and other institutional investors own 49.17% of the company's stock.

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Lithium Americas (Argentina) Trading Up 15.3 %

LAAC stock traded up $0.27 during trading on Friday, reaching $2.03. 1,248,600 shares of the stock were exchanged, compared to its average volume of 1,354,531. The firm has a market capitalization of $328.72 million, a price-to-earnings ratio of 0.26 and a beta of 1.35. The business has a 50 day moving average price of $2.29 and a 200-day moving average price of $2.85. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $5.68.

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.