Lithium Americas (Argentina) Corp (NYSE: LAAC) stock jumped 2.76% on Friday to $5.59 against a previous-day closing price of $5.44. With 0.91 million shares changed hands, the volume of the stock remained lighter than its average volume of 3.36 million shares. During the session, the Other Industrial Metals & Mining company that operates in wider Basic Materials sector, reached to the highest price of $5.67 whereas the lowest price it dropped to was $5.34. The 52-week range on LAAC shows that it touched its highest point at $10.86 and its lowest point at $5.07 during that stretch. It currently has a 1-year price target of $13.09. Beta for the stock currently stands at 1.33.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of LAAC was down-trending over the past week, with a drop of -2.78%, but this was down by -13.20% over a month. Three-month performance dropped to -19.95% while six-month performance fell -37.67%. The stock lost -46.49% in the past year, while it has lost -26.75% so far this year. A look at the trailing 12-month EPS for LAAC yields -0.11 with Next year EPS estimates of 0.61. For the next quarter, that number is 0.05. This implies an EPS growth rate of 157.34% for this year and 315.93% for next year.
Float and Shares Shorts:
At present, 135.03 million LAAC shares are outstanding with a float of 120.58 million shares on hand for trading. On Oct 30, 2023, short shares totaled 13.54 million, which was 8.47% higher than short shares on Sep 14, 2023. In addition to Mr. Jonathan D. Evans as the firm’s President, CEO & Director, Mr. John Anthony Kanellitsas B.S., M.B.A. serves as its Executive Vice Chair.
Other institutions hold 9.34% of LAAC, in contrast to 10.42% held by mutual funds. As the largest shareholder in LAAC with 3.08% of the stake, FifthDelta Ltd. holds 4,933,547 shares worth 4,933,547. A second-largest stockholder of LAAC, The Vanguard Group, Inc., holds 2,534,906 shares, controlling over 1.58% of the firm’s shares. Global X Management Co. LLC is the third largest shareholder in LAAC, holding 1,884,273 shares or 1.18% stake. With a 1.02% stake in LAAC, the Global X Lithium & Battery Tech E is the largest stakeholder. A total of 1,628,038 shares are owned by the mutual fund manager. The Vanguard Total International Stoc, which owns about 0.82% of LAAC stock, is the second-largest Mutual Fund holder. It holds 1,308,876 shares valued at 7.24 million. VanEck Rare Earth/Strategic Metal holds 0.75% of the stake in LAAC, owning 1,202,745 shares worth 6.65 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for LAAC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With LAAC analysts setting a high price target of $31.00 and a low target of $5.40, the average target price over the next 12 months is $13.09. Based on these targets, LAAC could surge 454.56% to reach the target high and fall by -3.4% to reach the target low. Reaching the average price target will result in a growth of 134.17% from current levels.