Lithium Americas (Argentina) (NYSE:LAR) Upgraded at TD Securities

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by investment analysts at TD Securities to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on LAR. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their target price for the company from $4.75 to $9.60 in a report on Monday, January 19th. Stifel Nicolaus increased their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $4.25 to $7.75 in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target on the stock in a research report on Tuesday, January 13th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $7.44.

Lithium Americas (Argentina) Trading Up 2.2%

Shares of LAR opened at $6.88 on Monday. The company has a 50-day simple moving average of $6.47 and a 200-day simple moving average of $4.76. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $8.80.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in Lithium Americas (Argentina) by 119.3% during the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock valued at $32,045,000 after buying an additional 5,219,416 shares in the last quarter. CenterBook Partners LP lifted its position in shares of Lithium Americas (Argentina) by 102.1% in the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after acquiring an additional 2,122,035 shares during the period. Seldon Capital LP acquired a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter worth approximately $6,076,000. Woodline Partners LP bought a new position in Lithium Americas (Argentina) in the first quarter worth $3,456,000. Finally, Invesco Ltd. boosted its stake in Lithium Americas (Argentina) by 42.3% during the second quarter. Invesco Ltd. now owns 2,198,736 shares of the company’s stock worth $4,573,000 after buying an additional 653,351 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

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.