Lithium Americas (Argentina) (NYSE:LAAC) Shares Up 5.5% – Here’s Why

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) traded up 5.5% during trading on Tuesday . The company traded as high as $3.66 and last traded at $3.65. 1,024,489 shares changed hands during trading, a decline of 32% from the average session volume of 1,508,046 shares. The stock had previously closed at $3.46.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank reduced their price objective on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Finally, HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.05.

Lithium Americas (Argentina) Stock Up 2.3 %

The company has a market capitalization of $575.59 million, a P/E ratio of 0.44 and a beta of 1.33. The firm has a 50-day moving average price of $2.90 and a two-hundred day moving average price of $3.63.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02).

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. General Motors Holdings LLC acquired a new position in Lithium Americas (Argentina) during the first quarter worth $80,862,000. William Blair Investment Management LLC acquired a new stake in shares of Lithium Americas (Argentina) in the second quarter valued at $10,465,000. M&G Plc acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at $5,944,000. Hartree Partners LP increased its stake in shares of Lithium Americas (Argentina) by 616.9% in the first quarter. Hartree Partners LP now owns 888,915 shares of the company’s stock valued at $4,791,000 after buying an additional 764,915 shares in the last quarter. Finally, Thomist Capital Management LP acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at $3,249,000. 49.17% of the stock is owned by institutional investors.

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.