Lithium Americas (Argentina) (NYSE:LAR) Given New $9.00 Price Target at TD Securities

Lithium Americas (Argentina) (NYSE:LAR) had its target price upped by equities researchers at TD Securities from $7.00 to $9.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 27.21% from the company’s current price.

A number of other research firms have also commented on LAR. National Bank Financial increased their price target on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a report on Tuesday, January 13th. Stifel Nicolaus increased their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.75 to $9.60 in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $7.66.

Lithium Americas (Argentina) Stock Performance

Shares of Lithium Americas (Argentina) stock traded up $0.81 on Tuesday, hitting $7.08. The company had a trading volume of 2,808,124 shares, compared to its average volume of 3,245,586. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $8.80. The stock has a 50 day moving average of $7.26 and a 200-day moving average of $5.57. The stock has a market capitalization of $1.15 billion and a price-to-earnings ratio of -14.17.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in shares of Lithium Americas (Argentina) by 119.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after purchasing an additional 5,219,416 shares during the period. CenterBook Partners LP grew its holdings in Lithium Americas (Argentina) by 102.1% during the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after purchasing an additional 2,122,035 shares during the period. Seldon Capital LP purchased a new stake in Lithium Americas (Argentina) in the third quarter worth $6,076,000. Millennium Management LLC raised its stake in shares of Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after buying an additional 1,793,994 shares during the period. Finally, Woodline Partners LP purchased a new position in shares of Lithium Americas (Argentina) during the 1st quarter valued at $3,456,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.