Lithium Americas (Argentina) (NYSE:LAAC) Trading Down 5.2%

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price was down 5.2% during trading on Tuesday . The stock traded as low as $5.05 and last traded at $5.06. Approximately 242,997 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 1,661,486 shares. The stock had previously closed at $5.34.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LAAC shares. Deutsche Bank Aktiengesellschaft downgraded shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and reduced their target price for the stock from $9.00 to $6.50 in a research note on Thursday, January 11th. BMO Capital Markets cut their price objective on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. Finally, Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Stock Down 4.7 %

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 company has a 50-day simple moving average of $5.00 and a two-hundred day simple moving average of $5.35. The stock has a market cap of $820.00 million, a P/E ratio of 0.67 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Wednesday, March 20th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.05. On average, equities analysts forecast that Lithium Americas will post 0.42 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently modified their holdings of LAAC. Mather Group LLC. purchased a new stake in Lithium Americas (Argentina) during the 1st quarter valued at $27,000. Allworth Financial LP bought a new stake in Lithium Americas (Argentina) in the 4th quarter worth about $32,000. Quent Capital LLC purchased a new position in Lithium Americas (Argentina) in the 4th quarter worth about $34,000. Fifth Third Bancorp bought a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $53,000. Finally, Scarborough Advisors LLC bought a new position in Lithium Americas (Argentina) during the 4th quarter valued at about $53,000. 49.17% of the stock is currently owned by institutional investors.

About Lithium Americas (Argentina)

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.