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

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) has received a consensus rating of "Moderate Buy" from the five brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.70.

LAAC has been the subject of a number of recent analyst reports. BMO Capital Markets cut their target price on Lithium Americas (Argentina) from $7.00 to $6.50 and set a "market perform" rating for the company in a research report on Friday, March 22nd. Scotiabank upgraded Lithium Americas (Argentina) from a "sector perform" rating to a "sector outperform" rating and set a $8.00 target price for the company in a research report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded Lithium Americas (Argentina) from a "buy" rating to a "hold" rating and cut their target price for the company from $9.00 to $6.50 in a research report on Thursday, January 11th.

Lithium Americas (Argentina) Stock Performance

LAAC traded up $0.20 during trading on Tuesday, hitting $5.07. The stock had a trading volume of 969,714 shares, compared to its average volume of 1,700,863. The company has a 50 day moving average price of $4.94 and a 200-day moving average price of $5.41. The firm has a market cap of $815.10 million, a price-to-earnings ratio of 0.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. Lithium Americas has a one year low of $3.84 and a one year high of $8.79.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last released its earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.05. As a group, research analysts predict that Lithium Americas will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently modified their holdings of LAAC. Dynamic Advisor Solutions LLC acquired a new position in Lithium Americas (Argentina) in the 4th quarter worth about $281,000. FNY Investment Advisers LLC acquired a new position in Lithium Americas (Argentina) in the 4th quarter worth about $62,000. Mutual Advisors LLC acquired a new position in Lithium Americas (Argentina) in the 4th quarter worth about $306,000. Quent Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $34,000. Finally, Fifth Third Bancorp acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 49.17% of the company's stock.

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.