Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Up 3.8% – Still a Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s share price rose 3.8% during trading on Tuesday . The company traded as high as $3.96 and last traded at $3.84. Approximately 982,161 shares were traded during trading, a decline of 35% from the average daily volume of 1,516,109 shares. The stock had previously closed at $3.70.

Analysts Set New Price Targets

LAAC has been the subject of a number of research analyst reports. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Scotiabank lowered their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Lithium Americas (Argentina) Stock Performance

The company has a market cap of $578.82 million, a price-to-earnings ratio of 0.45 and a beta of 1.33. The business has a 50-day simple moving average of $3.00 and a 200-day simple moving average of $3.57.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Research analysts anticipate that Lithium Americas will post -0.02 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently made changes to their positions in LAAC. Teamwork Financial Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth about $54,000. BNP Paribas Financial Markets acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth about $177,000. Hartree Partners LP raised its position in shares of Lithium Americas (Argentina) by 616.9% during the 1st quarter. Hartree Partners LP now owns 888,915 shares of the company’s stock worth $4,791,000 after acquiring an additional 764,915 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Lithium Americas (Argentina) by 24.5% during the 1st quarter. SG Americas Securities LLC now owns 49,868 shares of the company’s stock worth $269,000 after acquiring an additional 9,827 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Lithium Americas (Argentina) by 61.6% during the 1st quarter. Russell Investments Group Ltd. now owns 301,856 shares of the company’s stock worth $1,627,000 after buying an additional 115,078 shares during the last quarter. 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.