Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $3.24, but opened at $3.34. Lithium Americas (Argentina) shares last traded at $3.37, with a volume of 425,202 shares trading hands.
Analysts Set New Price Targets
A number of analysts recently issued reports on the stock. HSBC raised shares of Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a "strong-buy" rating in a research note on Wednesday, August 14th. Finally, Scotiabank decreased their price target 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. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $7.05.
Read Our Latest Analysis on LAAC
Lithium Americas (Argentina) Stock Up 7.9 %
The company has a market capitalization of $563.50 million, a price-to-earnings ratio of 0.42 and a beta of 1.33. The firm has a 50 day moving average price of $2.67 and a two-hundred day moving average price of $3.78.
Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.02).
Institutional Investors Weigh In On Lithium Americas (Argentina)
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) in the first quarter worth about $27,000. Fairscale Capital LLC acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth approximately $31,000. Fifth Third Bancorp grew its position 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 worth $32,000 after acquiring an additional 4,000 shares in the last quarter. Ping Capital Management Inc. bought a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at approximately $35,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter valued at approximately $36,000. Institutional investors own 49.17% of the company's stock.
About Lithium Americas (Argentina)
(
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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.
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