Lithium Americas (Argentina) (NYSE:LAAC) Trading Down 3.3% – Time to Sell?

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) dropped 3.3% during trading on Monday . The company traded as low as $3.52 and last traded at $3.55. Approximately 207,202 shares were traded during trading, a decline of 86% from the average daily volume of 1,495,848 shares. The stock had previously closed at $3.67.

Analysts Set New Price Targets

LAAC has been the subject of a number of research analyst reports. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. Four research 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.05.

Lithium Americas (Argentina) Trading Down 2.7 %

The business’s 50-day simple moving average is $2.72 and its two-hundred day simple moving average is $3.72. The company has a market capitalization of $575.59 million, a PE ratio of 0.46 and a beta of 1.33.

Lithium Americas (Argentina) (NYSE:LAAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02).

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several large investors have recently modified their holdings of LAAC. General Motors Holdings LLC bought a new position in shares of Lithium Americas (Argentina) during the first quarter worth about $80,862,000. William Blair Investment Management LLC bought a new position in shares of Lithium Americas (Argentina) during the second quarter worth about $10,465,000. M&G Plc bought a new position in shares of Lithium Americas (Argentina) during the first quarter worth about $5,944,000. Hartree Partners LP lifted its position in shares of Lithium Americas (Argentina) by 616.9% during the first quarter. Hartree Partners LP now owns 888,915 shares of the company’s stock worth $4,791,000 after purchasing an additional 764,915 shares during the last quarter. Finally, Thomist Capital Management LP acquired a new stake in Lithium Americas (Argentina) during the first quarter worth about $3,249,000. 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.