Lithium Americas (Argentina) (NYSE:LAAC) Stock Price Down 4.2%

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAAC) dropped 4.2% during mid-day trading on Monday . The company traded as low as $4.79 and last traded at $4.79. Approximately 513,044 shares changed hands during trading, a decline of 70% from the average daily volume of 1,703,219 shares. The stock had previously closed at $5.00.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LAAC. 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 downgraded shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and lowered their target price for the company from $9.00 to $6.50 in a research note on Thursday, January 11th. Finally, BMO Capital Markets lowered their target price on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday, March 22nd. Two investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.70.

Lithium Americas (Argentina) Price Performance

The company’s 50-day moving average price is $4.94 and its 200-day moving average price is $5.41. 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 cap of $815.10 million, a P/E ratio of 0.63 and a beta of 1.31.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its earnings results on Wednesday, March 20th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.01 by $0.05. As a group, sell-side analysts predict that Lithium Americas will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Large investors have recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at $27,000. Allworth Financial LP acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth about $32,000. Quent Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth about $34,000. Fifth Third Bancorp acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth about $53,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 4th quarter worth about $53,000. Institutional investors and hedge funds 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.