Lithium Americas (Argentina) (NYSE:LAAC) Trading Down 3.6% – Time to Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAAC)’s stock price fell 3.6% during mid-day trading on Friday . The stock traded as low as $3.24 and last traded at $3.25. 300,497 shares were traded during trading, a decline of 80% from the average session volume of 1,499,922 shares. The stock had previously closed at $3.37.

Analysts Set New Price Targets

LAAC has been the topic of a number of research analyst reports. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Lithium Americas (Argentina) Stock Down 0.6 %

The firm has a market capitalization of $542.47 million, a P/E ratio of 0.43 and a beta of 1.33. The business’s 50-day simple moving average is $3.27 and its 200 day simple moving average is $3.37.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the business. Fairscale Capital LLC bought a new position in shares of Lithium Americas (Argentina) during the second quarter valued at about $31,000. Fifth Third Bancorp grew its position in Lithium Americas (Argentina) by 67.9% during the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after acquiring an additional 4,000 shares during the last quarter. Ping Capital Management Inc. purchased a new position in Lithium Americas (Argentina) in the 2nd quarter worth approximately $35,000. Legacy Capital Group California Inc. bought a new stake in Lithium Americas (Argentina) in the third quarter valued at approximately $36,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter valued at approximately $36,000. 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.