Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) PT at $7.05

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the eight analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.05.

LAAC has been the topic of several recent research reports. Hsbc Global Res raised Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. HSBC raised Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research note on Wednesday, August 14th. Finally, Scotiabank decreased 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 report on Thursday, August 15th.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently modified their holdings of the business. M&G Plc acquired a new position in shares of Lithium Americas (Argentina) during the first quarter valued at about $5,944,000. Decade Renewable Partners LP boosted its holdings in Lithium Americas (Argentina) by 102.7% in the second quarter. Decade Renewable Partners LP now owns 547,625 shares of the company's stock worth $1,752,000 after acquiring an additional 277,500 shares in the last quarter. Vanguard Group Inc. grew its stake in Lithium Americas (Argentina) by 0.6% in the first quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company's stock valued at $19,191,000 after acquiring an additional 21,456 shares during the period. SG Americas Securities LLC increased its holdings in shares of Lithium Americas (Argentina) by 24.5% during the first quarter. SG Americas Securities LLC now owns 49,868 shares of the company's stock valued at $269,000 after acquiring an additional 9,827 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Lithium Americas (Argentina) by 13.2% during the second quarter. Van ECK Associates Corp now owns 2,614,946 shares of the company's stock valued at $8,366,000 after acquiring an additional 304,590 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Trading Down 3.9 %

NYSE:LAAC traded down $0.14 during mid-day trading on Tuesday, hitting $3.46. 1,809,842 shares of the company's stock were exchanged, compared to its average volume of 1,504,262. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $7.18. The firm has a market capitalization of $557.86 million, a P/E ratio of 0.45 and a beta of 1.33. The company has a 50 day simple moving average of $2.75 and a 200-day simple moving average of $3.71.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02).

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.