Lithium Americas (Argentina) (NYSE:LAAC) Upgraded to Buy at HSBC

HSBC upgraded shares of Lithium Americas (Argentina) (NYSE:LAAC) from a hold rating to a buy rating in a research note released on Wednesday, Marketbeat Ratings reports.

LAAC has been the topic of a number of other research reports. National Bankshares set a $6.00 price objective on shares of Lithium Americas (Argentina) and gave the stock a sector perform rating in a research report on Thursday, June 6th. Stifel Nicolaus cut their price target on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a buy rating on the stock in a research report on Tuesday, May 21st. Finally, National Bank Financial upgraded Lithium Americas (Argentina) to a hold rating in a report on Wednesday, June 5th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $8.21.

Lithium Americas (Argentina) Trading Up 6.0 %

LAAC opened at $2.63 on Wednesday. The stock has a market capitalization of $424.03 million, a P/E ratio of 0.33 and a beta of 1.35. The firm’s fifty day simple moving average is $3.12 and its 200 day simple moving average is $4.24. Lithium Americas has a 12 month low of $2.26 and a 12 month high of $8.79.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently bought and sold shares of LAAC. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) in the 1st quarter valued at about $27,000. Fairscale Capital LLC bought a new stake in shares of Lithium Americas (Argentina) during the second quarter worth approximately $31,000. Fifth Third Bancorp increased its stake in shares of Lithium Americas (Argentina) by 67.9% during the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after purchasing an additional 4,000 shares during the period. Ping Capital Management Inc. acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter worth approximately $35,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Lithium Americas (Argentina) in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.