Lithium Americas (Argentina) (NYSE:LAAC) Shares Up 6.3% - Time to Buy?

Key Points

• Lithium Americas (Argentina) stock saw a rise of 6.3%, trading at $3.21 after a previous close of $3.02 on Tuesday.
• An institutional investor, Point72 Asset Management L.P., increased its stake in the company by 76.2%, owning approximately 0.27% of the total shares.
• The company focuses on lithium exploration and owns interests in projects including the Cauchari-Olaroz project in Jujuy province, Argentina.

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report)'s stock price traded up 6.3% on Tuesday . The stock traded as high as $3.23 and last traded at $3.21. 1,984,965 shares traded hands during mid-day trading, an increase of 39% from the average session volume of 1,432,022 shares. The stock had previously closed at $3.02.

Lithium Americas (Argentina) Price Performance

The stock has a 50-day moving average price of $3.07 and a 200 day moving average price of $2.41. The company has a market cap of $531.14 million, a price-to-earnings ratio of 0.42 and a beta of 1.35.

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.