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

Lithium Americas (Argentina) Corp. (NYSE:LAAC) shares 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 traded hands during trading, a decline of 48% from the average session volume of 1,682,980 shares. The stock had previously closed at $4.89.

Analysts Set New Price Targets

Several brokerages recently weighed in on LAAC. 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 research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and cut their price objective for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, BMO Capital Markets decreased their target price on 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and an average price target of $10.70.

Lithium Americas (Argentina) Price Performance

The firm has a market cap of $843.24 million, a price-to-earnings ratio of 0.65 and a beta of 1.31. 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 has a 50-day moving average price of $4.96 and a 200 day moving average price of $5.40.

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

Institutional Trading of Lithium Americas (Argentina)

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

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.