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

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

LAAC has been the topic of a number of research analyst reports. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target on the stock in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and dropped their price objective for the company from $9.00 to $6.50 in a report on Thursday, January 11th. Finally, BMO Capital Markets dropped their price objective on shares of 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.

Lithium Americas (Argentina) Trading Up 7.4 %

LAAC opened at $5.25 on Tuesday. The company’s 50 day moving average is $4.98 and its 200-day moving average is $5.37. Lithium Americas has a 1-year low of $3.84 and a 1-year high of $8.79. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.24. The company has a market cap of $844.04 million, a P/E ratio of 0.66 and a beta of 1.31.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. FIFTHDELTA Ltd bought a new position in Lithium Americas (Argentina) during the 4th quarter worth approximately $32,598,000. Van ECK Associates Corp bought a new position in Lithium Americas (Argentina) during the 4th quarter worth approximately $15,763,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $15,303,000. CenterBook Partners LP acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $6,877,000. Finally, RWC Asset Management LLP acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $5,741,000. Institutional investors 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.