Lithium Americas (Argentina) Corp. (NYSE:LAAC) Receives $7.19 Consensus Target Price from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) have received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. Three 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 1 year price objective among analysts that have covered the stock in the last year is $7.19.

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

Lithium Americas (Argentina) Trading Up 2.3 %

Shares of LAAC stock opened at $2.23 on Wednesday. The stock has a 50 day moving average of $2.59 and a 200 day moving average of $2.90. The stock has a market cap of $361.11 million, a P/E ratio of 0.29 and a beta of 1.35. Lithium Americas has a twelve month low of $2.07 and a twelve month high of $5.79.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently made changes to their positions in LAAC. Mariner LLC purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $32,000. Banco Santander S.A. acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth approximately $37,000. Ping Capital Management Inc. boosted 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 acquiring an additional 4,000 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) in the third quarter worth approximately $40,000. Finally, McCarthy Asset Management Inc. acquired a new stake in shares of Lithium Americas (Argentina) in the third quarter worth approximately $49,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.