Lithium Americas (Argentina) (NYSE:LAAC) Sets New 12-Month Low at $3.19

Lithium Americas (Argentina) Corp. (NYSE:LAAC) shares 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. The stock had previously closed at $3.30.

Analyst Ratings Changes

Several research analysts have recently commented on the company. National Bankshares set a $6.00 price target on Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a report on Thursday, June 6th. Stifel Nicolaus decreased their target price on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 21st. BMO Capital Markets cut their price target on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a report on Friday, March 22nd. National Bank Financial upgraded Lithium Americas (Argentina) to a “hold” rating in a report on Wednesday, June 5th. Finally, Scotiabank raised 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 note on Friday, March 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.83.

Lithium Americas (Argentina) Trading Down 3.0 %

The firm’s fifty day moving average price is $4.54 and its 200 day moving average price is $4.94. The stock has a market capitalization of $515.87 million, a price-to-earnings ratio of 0.41 and a beta of 1.37.

Lithium Americas (Argentina) (NYSE:LAAC) last released 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 prior year, the business posted ($0.04) earnings per share. On average, analysts forecast that Lithium Americas will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Scotia Capital Inc. purchased a new stake in Lithium Americas (Argentina) during the 4th quarter worth about $2,245,000. Private Advisor Group LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth approximately $152,000. FIFTHDELTA Ltd acquired a new stake in Lithium Americas (Argentina) in the fourth quarter valued at approximately $32,598,000. Formidable Asset Management LLC purchased a new position in Lithium Americas (Argentina) in the fourth quarter worth approximately $3,511,000. Finally, Allworth Financial LP purchased a new position in Lithium Americas (Argentina) in the fourth quarter worth approximately $32,000. 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.