Lithium Americas (Argentina) Corp. (NYSE:LAAC) Short Interest Update

Lithium Americas (Argentina) Corp. (NYSE:LAAC) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 8,750,000 shares, a decline of 9.5% from the March 15th total of 9,670,000 shares. Currently, 7.3% of the company’s stock are sold short. Based on an average daily volume of 1,810,000 shares, the short-interest ratio is currently 4.8 days.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently bought and sold shares of the company. FIFTHDELTA Ltd bought a new position in Lithium Americas (Argentina) during the fourth quarter valued at $32,598,000. Vanguard Group Inc. purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $22,367,000. Van ECK Associates Corp purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $15,763,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $15,303,000. Finally, CenterBook Partners LP purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter worth $6,877,000. 49.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LAAC has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $9.00 to $6.50 in a report on Thursday, January 11th. BMO Capital Markets reduced their target price on 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. 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 report on Friday, March 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.70.

Lithium Americas (Argentina) Stock Performance

NYSE LAAC traded down $0.12 on Wednesday, hitting $5.07. 1,001,677 shares of the stock traded hands, compared to its average volume of 1,530,961. The stock’s fifty day simple moving average is $4.86. Lithium Americas has a 12 month low of $3.84 and a 12 month high of $8.79. The company has a market cap of $815.10 million, a price-to-earnings ratio of 0.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16.

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

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.