Analysts Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) Price Target at $8.83

Lithium Americas (Argentina) Corp. (NYSE:LAAC) has received an average recommendation of “Hold” from the seven brokerages that are covering the firm, MarketBeat reports. Four equities 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 issued ratings on the stock in the last year is $8.83.

LAAC has been the topic of several recent analyst reports. National Bankshares set a $6.00 price target on shares of Lithium Americas (Argentina) and gave the company a “sector perform” rating in a report on Thursday, June 6th. Stifel Nicolaus lowered their price objective on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 21st. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) to a “hold” rating in a research report on Wednesday, June 5th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently bought and sold shares of LAAC. Scotia Capital Inc. purchased a new stake in shares of Lithium Americas (Argentina) during the 4th quarter valued at approximately $2,245,000. Private Advisor Group LLC acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth about $152,000. M&G Plc acquired a new position in Lithium Americas (Argentina) during the first quarter worth about $5,944,000. FIFTHDELTA Ltd acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $32,598,000. Finally, Formidable Asset Management LLC acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth approximately $3,511,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE LAAC opened at $2.46 on Thursday. The firm has a market cap of $396.63 million, a PE ratio of 0.31 and a beta of 1.35. The firm has a fifty day moving average of $3.51 and a 200 day moving average of $4.39. Lithium Americas has a one year low of $2.27 and a one year high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same quarter in the previous year, the firm earned ($0.04) EPS. On average, equities analysts predict that Lithium Americas will post 0.07 EPS for the current fiscal 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.