Lithium Americas (Argentina) (NYSE:LAAC) Shares Up 5.5% - Should You Buy?

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) shot up 5.5% on Tuesday . The stock traded as high as $3.66 and last traded at $3.65. 1,024,489 shares were traded during trading, a decline of 32% from the average session volume of 1,508,046 shares. The stock had previously closed at $3.46.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LAAC. Scotiabank reduced their price objective on 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. Hsbc Global Res raised 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 report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Lithium Americas (Argentina) currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.05.

Lithium Americas (Argentina) Price Performance

The firm has a 50-day moving average of $2.88 and a 200 day moving average of $3.63. The stock has a market capitalization of $590.91 million, a price-to-earnings ratio of 0.46 and a beta of 1.33.

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 the consensus estimate of ($0.03) by ($0.02).

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently bought and sold shares of LAAC. Mather Group LLC. bought a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $27,000. Teamwork Financial Advisors LLC bought a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $54,000. Thomist Capital Management LP bought a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $3,249,000. BNP Paribas Financial Markets bought a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $177,000. Finally, Hartree Partners LP raised its stake in Lithium Americas (Argentina) by 616.9% in the first quarter. Hartree Partners LP now owns 888,915 shares of the company's stock valued at $4,791,000 after buying an additional 764,915 shares during the period. Institutional investors own 49.17% of the company's stock.

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.