Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAAC) PT at $7.19

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have received an average rating of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.19.

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

Lithium Americas (Argentina) Stock Up 2.0 %

NYSE:LAAC opened at $2.79 on Tuesday. Lithium Americas has a 52 week low of $2.07 and a 52 week high of $5.79. The company has a market capitalization of $450.98 million, a P/E ratio of 0.36 and a beta of 1.35. The stock’s fifty day moving average is $3.02 and its two-hundred day moving average is $3.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Fairscale Capital LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth $31,000. Legacy Capital Group California Inc. acquired a new position in shares of Lithium Americas (Argentina) during the 3rd quarter worth about $36,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Lithium Americas (Argentina) during the 2nd quarter worth about $36,000. Sanctuary Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the 3rd quarter worth about $40,000. Finally, McCarthy Asset Management Inc. acquired a new position in shares of Lithium Americas (Argentina) during the 3rd quarter worth about $49,000. 49.17% of the stock is owned by institutional investors and hedge funds.

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.