Lithium Americas (Argentina) Corp. (NYSE:LAAC) Short Interest Down 9.5% in March

Lithium Americas (Argentina) Corp. (NYSE:LAAC) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 8,750,000 shares, a drop of 9.5% from the March 15th total of 9,670,000 shares. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is presently 4.8 days. Currently, 7.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently modified their holdings of the business. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) in the first quarter valued at about $27,000. Allworth Financial LP acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at about $32,000. Quent Capital LLC acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at about $34,000. Shell Asset Management Co. acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at about $42,000. Finally, Fifth Third Bancorp acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at about $53,000. Institutional investors own 49.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LAAC. Scotiabank upgraded shares of 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 report on Friday, March 22nd. BMO Capital Markets lowered 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 report on Friday, March 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and lowered their target price for the stock from $9.00 to $6.50 in a report on Thursday, January 11th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.70.

Lithium Americas (Argentina) Price Performance

LAAC stock traded down $0.12 during midday trading on Wednesday, reaching $5.07. 1,001,677 shares of the company were exchanged, compared to its average volume of 1,530,961. 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 stock’s 50-day simple moving average is $4.86. Lithium Americas has a one year low of $3.84 and a one year high of $8.79. The firm has a market capitalization of $815.10 million, a price-to-earnings ratio of 0.63 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05. As a group, analysts anticipate that Lithium Americas will post 0.46 earnings per share for the current fiscal 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.