Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.19.

Separately, Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a report on Monday, January 20th.

Lithium Americas (Argentina) Stock Down 5.3 %

NYSE LAAC opened at $2.13 on Wednesday. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $5.79. The firm has a market capitalization of $344.92 million, a PE ratio of 0.27 and a beta of 1.35. The stock’s 50 day moving average is $2.62 and its 200 day moving average is $2.91.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Ping Capital Management Inc. raised its stake in shares of Lithium Americas (Argentina) by 36.4% in the fourth quarter. Ping Capital Management Inc. now owns 15,000 shares of the company’s stock worth $39,000 after purchasing an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC increased its position in Lithium Americas (Argentina) by 25.8% during the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock valued at $93,000 after acquiring an additional 5,870 shares during the last quarter. Robertson Stephens Wealth Management LLC increased its position in Lithium Americas (Argentina) by 33.2% during the fourth quarter. Robertson Stephens Wealth Management LLC now owns 36,185 shares of the company’s stock valued at $95,000 after acquiring an additional 9,017 shares during the last quarter. Barclays PLC increased its position in Lithium Americas (Argentina) by 12.0% during the fourth quarter. Barclays PLC now owns 103,522 shares of the company’s stock valued at $271,000 after acquiring an additional 11,084 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Lithium Americas (Argentina) during the third quarter valued at $40,000. Hedge funds and other institutional investors 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.