Short Interest in Lithium Americas (Argentina) Corp. (NYSE:LAAC) Declines By 9.5%

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Get Free Report) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 8,750,000 shares, a decrease of 9.5% from the March 15th total of 9,670,000 shares. Approximately 7.3% of the shares of the company are short sold. Based on an average daily trading volume, of 1,810,000 shares, the short-interest ratio is presently 4.8 days.

Lithium Americas (Argentina) Trading Up 0.2 %

LAAC stock traded up $0.01 during midday trading on Monday, hitting $5.19. The stock had a trading volume of 1,546,353 shares, compared to its average volume of 1,743,258. Lithium Americas has a 52 week low of $3.84 and a 52 week high of $8.79. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.24. The stock's 50-day simple moving average is $4.81. The firm has a market capitalization of $834.41 million, a price-to-earnings ratio of 0.65 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last released its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.05. On average, equities analysts forecast that Lithium Americas will post 0.46 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently added to or reduced their stakes in the stock. FIFTHDELTA Ltd acquired a new stake in shares of Lithium Americas (Argentina) in the 4th quarter valued at $32,598,000. Vanguard Group Inc. bought a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $22,367,000. Van ECK Associates Corp bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at $15,763,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Lithium Americas (Argentina) in the fourth quarter worth $15,303,000. Finally, CenterBook Partners LP bought a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $6,877,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on LAAC shares. BMO Capital Markets dropped their target price on shares of 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. Deutsche Bank Aktiengesellschaft downgraded shares of Lithium Americas (Argentina) from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $9.00 to $6.50 in a report on Thursday, January 11th. Finally, Scotiabank upgraded shares of 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 note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of "Moderate Buy" and an average 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.