Lithium Americas (Argentina) (NYSE:LAAC) Reaches New 1-Year Low at $3.19

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $3.19 and last traded at $3.19, with a volume of 617593 shares changing hands. The stock had previously closed at $3.30.

Wall Street Analyst Weigh In

LAAC has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price target 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 raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price objective on the stock in a research report on Friday, March 22nd. National Bankshares set a $6.00 price objective on Lithium Americas (Argentina) and gave the company a “sector perform” rating in a research report on Thursday, June 6th. Stifel Nicolaus cut their price objective on 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 raised Lithium Americas (Argentina) to a “hold” rating in a research report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.83.

Lithium Americas (Argentina) Stock Performance

The business has a 50-day moving average price of $4.50 and a 200 day moving average price of $4.92. The stock has a market capitalization of $515.87 million, a P/E ratio of 0.40 and a beta of 1.37.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.10). During the same period in the previous year, the company earned ($0.04) earnings per share. As a group, research analysts forecast that Lithium Americas will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

A number of hedge funds have recently made changes to their positions in LAAC. Mather Group LLC. bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $27,000. Allworth Financial LP bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at approximately $32,000. Quent Capital LLC bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at approximately $34,000. Fifth Third Bancorp bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at approximately $53,000. Finally, Scarborough Advisors LLC bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at approximately $53,000. 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.