Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report)'s share price traded down 3.3% during trading on Monday . The company traded as low as $3.52 and last traded at $3.55. 207,202 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,495,848 shares. The stock had previously closed at $3.67.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on LAAC shares. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a "strong-buy" rating in a research report on Wednesday, August 14th. Scotiabank dropped their price objective 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. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Four research 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 company. According to data from MarketBeat, Lithium Americas (Argentina) has an average rating of "Moderate Buy" and an average price target of $7.05.
Read Our Latest Report on LAAC
Lithium Americas (Argentina) Stock Performance
The stock has a market capitalization of $579.62 million, a P/E ratio of 0.45 and a beta of 1.33. The company's 50-day moving average price is $2.72 and its 200 day moving average price is $3.72.
Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last issued its 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).
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in LAAC. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) in the 1st quarter valued at $27,000. Scarborough Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 4th quarter worth about $53,000. Fairscale Capital LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth $31,000. Fifth Third Bancorp raised its holdings in Lithium Americas (Argentina) by 67.9% during the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock worth $32,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Teamwork Financial Advisors LLC bought a new stake in Lithium Americas (Argentina) in the first quarter worth about $54,000. Institutional investors and hedge funds 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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