Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) were up 3.8% during trading on Tuesday . The company traded as high as $3.96 and last traded at $3.84. Approximately 982,161 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 1,516,109 shares. The stock had previously closed at $3.70.
Wall Street Analyst Weigh In
A number of analysts recently commented on LAAC shares. Scotiabank lowered 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 shares of Lithium Americas (Argentina) to a "strong-buy" rating in a research note on Wednesday, August 14th. Finally, HSBC upgraded shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Lithium Americas (Argentina) presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.05.
Read Our Latest Report on Lithium Americas (Argentina)
Lithium Americas (Argentina) Stock Performance
The firm's 50 day simple moving average is $2.96 and its 200 day simple moving average is $3.58. The firm has a market capitalization of $607.03 million, a price-to-earnings ratio of 0.46 and a beta of 1.33.
Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02). As a group, sell-side analysts forecast that Lithium Americas will post -0.02 earnings per share for the current year.
Hedge Funds Weigh In On Lithium Americas (Argentina)
Several large investors have recently made changes to their positions in LAAC. Fairscale Capital LLC acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $31,000. Fifth Third Bancorp lifted 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 purchasing an additional 4,000 shares during the period. Ping Capital Management Inc. acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $35,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $36,000. Finally, Legacy Capital Group California Inc. acquired a new position in shares of Lithium Americas (Argentina) in the 3rd quarter valued at $36,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.
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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