Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives $10.70 Average Price Target from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been assigned an average recommendation of “Moderate Buy” from the five research firms that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $10.70.

A number of equities analysts have issued reports on the company. BMO Capital Markets decreased their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price objective for the company in a report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $6.50 in a report on Thursday, January 11th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently modified their holdings of LAAC. Allworth Financial LP purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at $32,000. Quent Capital LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at $34,000. Ingalls & Snyder LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at $160,000. Mutual Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at $306,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at $281,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Performance

Shares of LAAC stock opened at $5.25 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 9.16 and a current ratio of 9.16. Lithium Americas has a fifty-two week low of $3.84 and a fifty-two week high of $8.79. The stock has a 50 day moving average price of $4.98 and a two-hundred day moving average price of $5.37. The company has a market capitalization of $844.04 million, a P/E ratio of 0.66 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. Analysts expect that Lithium Americas will post 0.42 earnings per share for the current year.

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.