Lithium Americas (Argentina) (NYSE:LAAC) Shares Gap Down to $5.13

Lithium Americas (Argentina) Corp. (NYSE:LAAC) shares gapped down prior to trading on Thursday . The stock had previously closed at $5.13, but opened at $5.01. Lithium Americas (Argentina) shares last traded at $4.89, with a volume of 265,647 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and set a $8.00 price target for the company in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lowered Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and dropped their target price for the company from $9.00 to $6.50 in a research report on Thursday, January 11th. Finally, 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. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Trading Down 4.5 %

The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. The company has a market capitalization of $787.77 million, a P/E ratio of 0.61 and a beta of 1.31. The business’s 50-day moving average price is $4.88.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.05. As a group, analysts anticipate that Lithium Americas will post 0.46 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently made changes to their positions in the company. Allworth Financial LP bought a new position in Lithium Americas (Argentina) during the 4th quarter worth about $32,000. Quent Capital LLC purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at approximately $34,000. Mutual Advisors LLC purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at approximately $306,000. Ingalls & Snyder LLC bought a new position in Lithium Americas (Argentina) in the fourth quarter worth approximately $160,000. Finally, Dynamic Advisor Solutions LLC purchased a new stake in Lithium Americas (Argentina) during the fourth quarter worth $281,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.