Lithium Americas (Argentina) (NYSE:LAAC) Shares Gap Down to $5.13

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.13, but opened at $5.01. Lithium Americas (Argentina) shares last traded at $4.89, with a volume of 265,647 shares traded.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LAAC. Scotiabank raised shares of 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 research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their price target for the company from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, BMO Capital Markets reduced their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average target price of $10.70.

Lithium Americas (Argentina) Stock Performance

The firm’s 50-day moving average is $4.88. The stock has a market capitalization of $787.77 million, a P/E ratio of 0.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05. On average, analysts expect that Lithium Americas will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently made changes to their positions in LAAC. FIFTHDELTA Ltd acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth approximately $32,598,000. Vanguard Group Inc. purchased a new stake in Lithium Americas (Argentina) in the fourth quarter valued at $22,367,000. Van ECK Associates Corp purchased a new stake in Lithium Americas (Argentina) in the fourth quarter valued at $15,763,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at $15,303,000. Finally, CenterBook Partners LP purchased a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth about $6,877,000. Institutional investors and hedge funds 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.