Stifel Nicolaus Cuts Lithium Americas (Argentina) (NYSE:LAAC) Price Target to $12.00

Posted by Defense World Staff on May 22nd, 2024

Lithium Americas (Argentina) (NYSE:LAAC – Get Free Report) had its price objective lowered by equities research analysts at Stifel Nicolaus from $18.50 to $12.00 in a research report issued to clients and investors on Tuesday, May 21st, BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 238.98% from the stock’s previous close.

Several other research analysts also recently commented on the company. BMO Capital Markets decreased their price objective on 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. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 target price for the company in a research report on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average target price of $7.05.

Check Out Our Latest Stock Analysis on Lithium Americas (Argentina)

Lithium Americas (Argentina) Trading Up 1.1 %

Shares of LAAC traded up $0.04 during midday trading on Tuesday, hitting $3.54. The stock had a trading volume of 402,945 shares, compared to its average volume of 1,513,775. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $6.69. The firm has a market cap of $573.20 million, a P/E ratio of 0.45 and a beta of 1.33. The business has a 50-day simple moving average of $3.05 and a two-hundred day simple moving average of $3.52.

Lithium Americas (Argentina) (NYSE:LAAC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, analysts expect that Lithium Americas will post -0.02 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

A number of large investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new position in Lithium Americas (Argentina) in the 1st quarter worth about $27,000. Fairscale Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth approximately $31,000. Allworth Financial LP bought a new stake in Lithium Americas (Argentina) in the fourth quarter valued at $32,000. Fifth Third Bancorp increased its position in Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock valued at $32,000 after buying an additional 4,000 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Lithium Americas (Argentina) during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

(Get Free Report)

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.

Lithium Americas (Argentina) Stock Down 0.6 %

Shares of NYSE:LAAC traded down $0.02 during midday trading on Tuesday, reaching $3.48. 496,250 shares of the company traded hands, compared to its average volume of 1,514,005. The firm’s fifty day moving average price is $3.05 and its two-hundred day moving average price is $3.52. The firm has a market capitalization of $563.48 million, a price-to-earnings ratio of 0.45 and a beta of 1.33. Lithium Americas has a 12 month low of $2.07 and a 12 month high of $6.69.

Lithium Americas (Argentina) (NYSE:LAAC – Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Analysts forecast that Lithium Americas will post -0.02 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently added to or reduced their stakes in the business. General Motors Holdings LLC purchased a new position in shares of Lithium Americas (Argentina) during the first quarter worth $80,862,000. FIFTHDELTA Ltd acquired a new position in shares of Lithium Americas (Argentina) in the 4th quarter valued at about $32,598,000. William Blair Investment Management LLC purchased a new stake in shares of Lithium Americas (Argentina) in the second quarter worth about $10,465,000. Van ECK Associates Corp purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at approximately $15,763,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Lithium Americas (Argentina) in the fourth quarter valued at approximately $15,303,000. Institutional investors and hedge funds own 49.17% of the company’s stock.