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

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

Wall Street Analyst Weigh In

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

Lithium Americas (Argentina) Stock Performance

The company has a market cap of $820.00 million, a price-to-earnings ratio of 0.67 and a beta of 1.31. The stock’s fifty day simple moving average is $5.00 and its 200 day simple moving average is $5.35. The company has a current ratio of 9.16, a quick ratio of 9.16 and a debt-to-equity ratio of 0.24.

Lithium Americas (Argentina) (NYSE:LAAC) last announced 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, analysts anticipate that Lithium Americas will post 0.42 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

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