Lithium Americas (Argentina) (NYSE:LAR) Trading 5.2% Higher After Analyst Upgrade

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) were up 5.2% during trading on Tuesday after Deutsche Bank Aktiengesellschaft upgraded the stock from a hold rating to a buy rating. Deutsche Bank Aktiengesellschaft now has a $8.30 price target on the stock. Lithium Americas (Argentina) traded as high as $8.16 and last traded at $7.88. Approximately 1,997,986 shares traded hands during trading, a decline of 51% from the average daily volume of 4,085,585 shares. The stock had previously closed at $7.49.

Several other analysts also recently weighed in on LAR. National Bankshares boosted their price target on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $4.25 to $7.75 in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Stifel Nicolaus lifted their price target on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.01.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Insigneo Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter worth about $34,000. BNP Paribas Financial Markets boosted its stake in Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after acquiring an additional 3,552 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in Lithium Americas (Argentina) in the third quarter worth about $38,000. Stratos Wealth Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the second quarter valued at approximately $28,000. Finally, SIH Partners LLLP bought a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter worth approximately $57,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

The stock has a market capitalization of $1.30 billion and a P/E ratio of -16.00. The business has a 50-day moving average price of $5.27 and a 200 day moving average price of $4.03.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). As a group, research analysts forecast that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.