Lithium Americas (Argentina) Corp. (NYSE:LAAC – Get Free Report)’s share price fell 4.2% on Monday . The company traded as low as $4.79 and last traded at $4.79. 513,044 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,703,219 shares. The stock had previously closed at $5.00.
Analysts Set New Price Targets
A number of research firms have recently weighed in on LAAC. 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 report on Thursday, January 11th. 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 note on Friday, March 22nd. 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 on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.70.
View Our Latest Stock Analysis on LAAC
Lithium Americas (Argentina) Price Performance
Lithium Americas (Argentina) (NYSE:LAAC – Get Free Report) last announced 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 expect that Lithium Americas will post 0.46 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Lithium Americas (Argentina)
Institutional investors have recently bought and sold shares of the company. Mather Group LLC. acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $27,000. Allworth Financial LP acquired a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $32,000. Quent Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $34,000. Fifth Third Bancorp acquired a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $53,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $53,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.
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.
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