The stock price of Lithium Americas (Argentina) Corp (NYSE: LAAC) has plunged by -3.69 when compared to previous closing price of 2.44, but the company has seen a -10.98% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-16 that VANCOUVER, British Columbia, Aug. 16, 2024 (GLOBE NEWSWIRE) — Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) (“Lithium Argentina” or the “Company”) is pleased to announce the completion of the previously announced agreement (the “Transaction”) with a subsidiary of Ganfeng Lithium Co. Ltd. (“Ganfeng Lithium”,) whereby Ganfeng Lithium acquired $70 million in newly issued shares of Proyecto Pastos Grandes S.A. (“PGCo”), the Company’s wholly-owned Argentinian subsidiary holding the Pastos Grandes project (“Pastos Grandes”) in Salta, Argentina, representing a 14.9% interest in PGCo and Pastos Grandes.
Is It Worth Investing in Lithium Americas (Argentina) Corp (NYSE: LAAC) Right Now?
Lithium Americas (Argentina) Corp (NYSE: LAAC) has a price-to-earnings ratio that is above its average at 0.30x. The stock has a 36-month beta value of 1.33. Opinions on the stock are mixed, with 5 analysts rating it as a “buy,” 0 as “overweight,” 4 as “hold,” and 0 as “sell.”
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The public float for LAAC is 135.77M, and at present, short sellers hold a 8.50% of that float. On September 06, 2024, the average trading volume of LAAC was 1.30M shares.
LAAC’s Market Performance
LAAC stock saw an increase of -10.98% in the past week, with a monthly gain of 3.07% and a quarterly increase of -43.65%. The volatility ratio for the week is 5.70%, and the volatility levels for the last 30 days are 6.58% for Lithium Americas (Argentina) Corp (LAAC). The simple moving average for the last 20 days is -8.58% for LAAC stock, with a simple moving average of -47.44% for the last 200 days.
Analysts’ Opinion of LAAC
Scotiabank, on the other hand, stated in their research note that they expect to see LAAC reach a price target of $8. The rating they have provided for LAAC stocks is “Sector Outperform” according to the report published on March 22nd, 2024.
Deutsche Bank gave a rating of “Hold” to LAAC, setting the target price at $6.50 in the report published on January 11th of the current year.
LAAC Trading at -17.44% from the 50-Day Moving Average
After a stumble in the market that brought LAAC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -72.73% of loss for the given period.
Volatility was left at 6.58%, however, over the last 30 days, the volatility rate increased by 5.70%, as shares sank -5.20% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -28.40% lower at present.
During the last 5 trading sessions, LAAC fell by -10.23%, which changed the moving average for the period of 200-days by -57.60% in comparison to the 20-day moving average, which settled at $2.56. In addition, Lithium Americas (Argentina) Corp saw -62.82% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for LAAC
The total capital return value is set at -0.03. Equity return is now at value -0.22, with -0.18 for asset returns.
Based on Lithium Americas (Argentina) Corp (LAAC), the company’s capital structure generated 0.33 points at debt to capital in total, while cash flow to debt ratio is standing at -0.09. The debt to equity ratio resting at 0.49. The interest coverage ratio of the stock is -1.48.
Currently, EBITDA for the company is -50.86 million with net debt to EBITDA at -2.93. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.03.
Conclusion
To sum up, Lithium Americas (Argentina) Corp (LAAC) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
