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

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

Separately, Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Monday, January 20th.

Lithium Americas (Argentina) Trading Down 1.2 %

Shares of Lithium Americas (Argentina) stock opened at $2.57 on Friday. The company’s 50-day moving average price is $2.77 and its 200-day moving average price is $2.93. The company has a market cap of $416.17 million, a price-to-earnings ratio of 0.33 and a beta of 1.35. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $5.79.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAAC. General Motors Holdings LLC purchased a new position in shares of Lithium Americas (Argentina) in the 3rd quarter worth about $48,907,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lithium Americas (Argentina) by 64.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,207,350 shares of the company’s stock worth $11,058,000 after purchasing an additional 1,650,835 shares during the last quarter. William Blair Investment Management LLC raised its position in shares of Lithium Americas (Argentina) by 1.8% in the 4th quarter. William Blair Investment Management LLC now owns 3,230,750 shares of the company’s stock worth $8,465,000 after purchasing an additional 58,481 shares during the last quarter. CenterBook Partners LP raised its position in shares of Lithium Americas (Argentina) by 20.0% in the 4th quarter. CenterBook Partners LP now owns 3,096,302 shares of the company’s stock worth $8,112,000 after purchasing an additional 516,311 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Lithium Americas (Argentina) by 16.3% in the 3rd quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock worth $10,615,000 after purchasing an additional 426,419 shares during the last quarter. 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.