Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.19.

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

Lithium Americas (Argentina) Stock Down 5.3 %

NYSE LAAC opened at $2.13 on Wednesday. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $5.79. The firm has a market capitalization of $344.92 million, a PE ratio of 0.27 and a beta of 1.35. The stock's 50 day moving average is $2.62 and its 200 day moving average is $2.91.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ping Capital Management Inc. raised its stake in shares of Lithium Americas (Argentina) by 36.4% in the fourth quarter. Ping Capital Management Inc. now owns 15,000 shares of the company's stock worth $39,000 after purchasing an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC increased its position in Lithium Americas (Argentina) by 25.8% during the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company's stock valued at $93,000 after acquiring an additional 5,870 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in Lithium Americas (Argentina) by 33.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 36,185 shares of the company's stock valued at $95,000 after acquiring an additional 9,017 shares during the last quarter. Barclays PLC increased its position in Lithium Americas (Argentina) by 12.0% during the fourth quarter. Barclays PLC now owns 103,522 shares of the company's stock valued at $271,000 after acquiring an additional 11,084 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Lithium Americas (Argentina) during the third quarter valued at $40,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Remove Ads