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

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price gapped down prior to trading 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.

Analyst Ratings Changes

Several brokerages have issued reports on LAAC. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price on the stock in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered 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 research report on Thursday, January 11th. Finally, BMO Capital Markets dropped their target price on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a report on Friday, March 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and an average price target of $10.70.

Lithium Americas (Argentina) Trading Up 3.6 %

The firm has a market cap of $803.05 million, a P/E ratio of 0.62 and a beta of 1.31. The company has a 50 day moving average of $4.91 and a 200 day moving average of $5.43. 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 (Argentina) (NYSE:LAAC) last posted its earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. Analysts predict that Lithium Americas will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Hedge funds have recently bought and sold shares of the business. Mather Group LLC. acquired a new position in shares of Lithium Americas (Argentina) during the 1st quarter valued at about $27,000. Allworth Financial LP acquired a new position in Lithium Americas (Argentina) during the fourth quarter valued at approximately $32,000. Quent Capital LLC bought a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $34,000. Shell Asset Management Co. acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth $42,000. Finally, Fifth Third Bancorp bought a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth $53,000. 49.17% of the stock is owned by institutional investors and hedge funds.

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.