Lithium Americas (Argentina) (TSE:LAR) Shares Up 7.6% – Here’s What Happened

Lithium Americas (Argentina) Corp. (TSE:LAR)’s share price was up 7.6% on Tuesday . The stock traded as high as C$9.28 and last traded at C$9.24. Approximately 139,853 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 307,411 shares. The stock had previously closed at C$8.59.

Analysts Set New Price Targets

A number of research analysts have issued reports on LAR shares. Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, February 9th. Finally, HSBC upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Four equities research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of “Strong Buy”.

Lithium Americas (Argentina) Price Performance

The company has a market cap of C$1.59 billion, a P/E ratio of -19.60 and a beta of 1.74. The company’s 50-day moving average is C$9.94 and its two-hundred day moving average is C$7.68.

Lithium Americas (Argentina) (TSE:LAR) last released its quarterly earnings data on Monday, March 23rd. The company reported C$0.01 earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In other Lithium Americas (Argentina) news, insider Ignacio Celorrio sold 50,453 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total value of C$510,079.83. Following the completion of the transaction, the insider owned 324,110 shares of the company’s stock, valued at approximately C$3,276,752.10. The trade was a 13.47% decrease in their position. Also, insider Daniel Cherniak sold 30,977 shares of the company’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the transaction, the insider owned 24,754 shares in the company, valued at C$261,649.78. This represents a 55.58% decrease in their position.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.