Lithium Americas (Argentina) (NYSE:LAAC) Shares Up 7.8%

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price shot up 7.8% during mid-day trading on Friday . The stock traded as high as $5.28 and last traded at $5.27. 876,510 shares were traded during mid-day trading, a decline of 48% from the average session volume of 1,682,980 shares. The stock had previously closed at $4.89.

Wall Street Analyst Weigh In

LAAC has been the topic of several research reports. BMO Capital Markets dropped their price objective on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating on the stock in a research note 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 target for the stock from $9.00 to $6.50 in a research note on Thursday, January 11th. Finally, Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price objective for the company in a research 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’s stock. According to MarketBeat, Lithium Americas (Argentina) presently has a consensus rating of “Moderate Buy” and an average price target of $10.70.

Lithium Americas (Argentina) Stock Performance

The stock’s 50-day moving average price is $4.96 and its 200 day moving average price is $5.40. 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 market cap of $843.24 million, a P/E ratio of 0.65 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last posted 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. As a group, research analysts expect that Lithium Americas will post 0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several large investors have recently added to or reduced their stakes in LAAC. FIFTHDELTA Ltd bought a new position in Lithium Americas (Argentina) during the fourth quarter worth about $32,598,000. Van ECK Associates Corp bought a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $15,763,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lithium Americas (Argentina) in the 4th quarter valued at $15,303,000. CenterBook Partners LP bought a new stake in Lithium Americas (Argentina) in the fourth quarter valued at $6,877,000. Finally, RWC Asset Management LLP acquired a new position in Lithium Americas (Argentina) during the fourth quarter worth $5,741,000. 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.