Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $3.30, but opened at $3.40. Lithium Americas (Argentina) shares last traded at $3.39, with a volume of 286,842 shares traded.
Wall Street Analysts Forecast Growth
Several analysts recently commented on LAAC shares. Scotiabank cut their target price on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating for the company in a research note on Thursday, August 15th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a "strong-buy" rating in a research report on Wednesday, August 14th. Finally, HSBC raised Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research note on Wednesday, August 14th. Four 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's stock. Based on data from MarketBeat, Lithium Americas (Argentina) has an average rating of "Moderate Buy" and a consensus price target of $7.05.
Read Our Latest Analysis on Lithium Americas (Argentina)
Lithium Americas (Argentina) Stock Performance
The firm's 50 day simple moving average is $3.35 and its 200-day simple moving average is $3.30. The company has a market capitalization of $547.32 million, a price-to-earnings ratio of 0.43 and a beta of 1.33.
Hedge Funds Weigh In On Lithium Americas (Argentina)
Several institutional investors and hedge funds have recently bought and sold shares of LAAC. Fairscale Capital LLC purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at $31,000. Fifth Third Bancorp grew its stake in shares of Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock valued at $32,000 after buying an additional 4,000 shares in the last quarter. Ping Capital Management Inc. acquired a new position in Lithium Americas (Argentina) in the second quarter worth approximately $35,000. Legacy Capital Group California Inc. bought a new position in Lithium Americas (Argentina) during the third quarter valued at approximately $36,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in Lithium Americas (Argentina) in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 49.17% of the company's stock.
Lithium Americas (Argentina) Company Profile
(
Get Free Report)
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.
Further Reading
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