Analysts Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) Price Target at $10.70

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have received an average rating of “Moderate Buy” from the five analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $10.70.

A number of analysts have weighed in on LAAC shares. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price objective for the company in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut 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 research note on Thursday, January 11th. Finally, BMO Capital Markets reduced their target price on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently bought and sold shares of LAAC. Mather Group LLC. purchased a new position in Lithium Americas (Argentina) in the first quarter valued at about $27,000. Allworth Financial LP purchased a new position in Lithium Americas (Argentina) in the 4th quarter valued at approximately $32,000. Quent Capital LLC acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth $34,000. Fifth Third Bancorp purchased a new stake in Lithium Americas (Argentina) during the fourth quarter worth $53,000. Finally, Scarborough Advisors LLC acquired a new stake in Lithium Americas (Argentina) in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Down 0.2 %

LAAC stock opened at $4.89 on Tuesday. Lithium Americas has a 12 month low of $3.84 and a 12 month high of $8.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. The company has a market cap of $786.17 million, a price-to-earnings ratio of 0.61 and a beta of 1.31. The company has a fifty day moving average price of $4.96 and a 200 day moving average price of $5.40.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. Sell-side analysts expect that Lithium Americas will post 0.42 earnings per share for the current year.

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.