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.
Institutional Ownership:
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.
Analysts Ratings:
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.
