Lithium Americas (Argentina) Corp. (NYSE:LAAC) Short Interest Update

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 9,670,000 shares, a decline of 20.6% from the February 29th total of 12,180,000 shares. Approximately 8.0% of the shares of the stock are short sold. Based on an average daily volume of 1,810,000 shares, the days-to-cover ratio is presently 5.3 days.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors have recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $281,000. FNY Investment Advisers LLC acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $62,000. Mutual Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $306,000. Quent Capital LLC acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $34,000. Finally, Fifth Third Bancorp acquired a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $53,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock traded up $0.27 during trading on Friday, hitting $5.39. The company's stock had a trading volume of 2,064,779 shares, compared to its average volume of 1,868,253. The stock has a market capitalization of $866.55 million, a PE ratio of 0.67 and a beta of 1.31. The stock has a fifty day moving average price of $4.64. Lithium Americas has a 1-year low of $3.84 and a 1-year 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.

Wall Street Analyst Weigh In

LAAC has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft downgraded Lithium Americas (Argentina) from a "buy" rating to a "hold" rating and decreased their target price for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. BMO Capital Markets reduced their price objective on Lithium Americas (Argentina) from $7.00 to $6.50 and set a "market perform" rating on the stock in a research report on Friday, March 22nd. Finally, Scotiabank upgraded Lithium Americas (Argentina) from a "sector perform" rating to a "sector outperform" rating and set a $8.00 price objective on the stock in a research report on Friday, March 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Lithium Americas (Argentina) has an average rating of "Moderate Buy" and a consensus target price of $10.70.

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.