Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Down 4.4% - Time to Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) fell 4.4% during mid-day trading on Friday . The stock traded as low as $3.46 and last traded at $3.48. 1,287,288 shares traded hands during trading, a decline of 15% from the average session volume of 1,509,887 shares. The stock had previously closed at $3.64.

Analyst Ratings Changes

Several brokerages have recently issued reports on LAAC. HSBC upgraded Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. Hsbc Global Res raised Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. Finally, Scotiabank dropped their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating on the stock in a report on Thursday, August 15th. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $7.05.

Lithium Americas (Argentina) Price Performance

The company has a market cap of $565.91 million, a P/E ratio of 0.45 and a beta of 1.33. The company has a fifty day simple moving average of $2.94 and a 200-day simple moving average of $3.62.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02). On average, analysts anticipate that Lithium Americas will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAAC. Teamwork Financial Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the 1st quarter valued at $54,000. Thomist Capital Management LP acquired a new stake in Lithium Americas (Argentina) during the 1st quarter valued at $3,249,000. BNP Paribas Financial Markets acquired a new stake in Lithium Americas (Argentina) during the 1st quarter valued at $177,000. Hartree Partners LP raised its stake in Lithium Americas (Argentina) by 616.9% during the 1st quarter. Hartree Partners LP now owns 888,915 shares of the company's stock valued at $4,791,000 after purchasing an additional 764,915 shares during the period. Finally, SG Americas Securities LLC raised its stake in Lithium Americas (Argentina) by 24.5% during the 1st quarter. SG Americas Securities LLC now owns 49,868 shares of the company's stock valued at $269,000 after purchasing an additional 9,827 shares during the period. Institutional investors own 49.17% of the company's stock.

About Lithium Americas (Argentina)

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.