Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Average Recommendation of "Moderate Buy" from Analysts

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) has been given an average rating of "Moderate Buy" by the eight analysts that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.05.

A number of brokerages recently weighed in on LAAC. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a "strong-buy" rating in a research note on Wednesday, August 14th. Scotiabank decreased their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating on the stock in a research report on Thursday, August 15th. Finally, HSBC upgraded Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE:LAAC traded down $0.01 during midday trading on Friday, reaching $3.24. 1,486,588 shares of the company's stock traded hands, compared to its average volume of 1,833,922. The company has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $3.49. Lithium Americas has a 1 year low of $2.07 and a 1 year high of $6.69. The company has a market cap of $524.61 million, a P/E ratio of 0.42 and a beta of 1.33.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, research analysts forecast that Lithium Americas will post -0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Fairscale Capital LLC purchased a new stake in Lithium Americas (Argentina) in the second quarter valued at $31,000. Fifth Third Bancorp boosted its stake in Lithium Americas (Argentina) by 67.9% during the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock worth $32,000 after buying an additional 4,000 shares during the period. Ping Capital Management Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the second quarter valued at about $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at approximately $36,000. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Lithium Americas (Argentina) in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 49.17% of the company's stock.

About Lithium Americas (Argentina)

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.