Lithium Americas (Argentina) Corp. (NYSE:LAAC – Get Free Report) has received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.70.
A number of research firms have recently weighed in on LAAC. Deutsche Bank Aktiengesellschaft cut Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and cut their price target for the stock from $9.00 to $6.50 in a report on Thursday, January 11th. Scotiabank upgraded 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 report on Friday, March 22nd. Finally, BMO Capital Markets lowered their price target 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.
Read Our Latest Stock Analysis on Lithium Americas (Argentina)
Lithium Americas (Argentina) Price Performance
Lithium Americas (Argentina) (NYSE:LAAC – Get Free Report) last released its quarterly 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. As a group, research analysts forecast that Lithium Americas will post 0.42 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of LAAC. FIFTHDELTA Ltd acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth approximately $32,598,000. Van ECK Associates Corp acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth $15,763,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth $15,303,000. CenterBook Partners LP acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at $6,877,000. Finally, RWC Asset Management LLP purchased a new stake in Lithium Americas (Argentina) during the fourth quarter valued at about $5,741,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.
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.
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