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

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been given an average rating of “Moderate Buy” by the five analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $10.70.

Several analysts have recently weighed in on LAAC shares. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target for the company in a research note on Friday, March 22nd. BMO Capital Markets lowered their target price 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. Finally, Deutsche Bank Aktiengesellschaft lowered Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and cut their price target for the company from $9.00 to $6.50 in a research note on Thursday, January 11th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently made changes to their positions in LAAC. FIFTHDELTA Ltd bought a new position in Lithium Americas (Argentina) in the fourth quarter worth about $32,598,000. Van ECK Associates Corp purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth approximately $15,763,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $15,303,000. CenterBook Partners LP purchased a new stake in Lithium Americas (Argentina) during the fourth quarter valued at approximately $6,877,000. Finally, RWC Asset Management LLP acquired a new stake in Lithium Americas (Argentina) in the fourth quarter valued at approximately $5,741,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Performance

LAAC stock opened at $4.89 on Tuesday. The firm has a market cap of $786.17 million, a price-to-earnings ratio of 0.61 and a beta of 1.31. Lithium Americas has a twelve month low of $3.84 and a twelve month high of $8.79. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.24. The business’s fifty day simple moving average is $4.96 and its two-hundred day simple moving average is $5.40.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its quarterly 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 0.42 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.