Lithium Americas (Argentina) Corp. (NYSE:LAR) Given Consensus Recommendation of “Moderate Buy” by Analysts

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $8.5667.

LAR has been the subject of several recent analyst reports. Scotiabank decreased their target price on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research report on Wednesday. Zacks Research lowered Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd.

Institutional Trading of Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada bought a new stake in Lithium Americas (Argentina) during the first quarter worth approximately $572,000. Goldman Sachs Group Inc. acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at $1,064,000. Woodline Partners LP bought a new position in Lithium Americas (Argentina) during the first quarter valued at about $3,456,000. JPMorgan Chase & Co. bought a new stake in Lithium Americas (Argentina) in the second quarter worth about $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the last quarter. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Trading Up 1.4%

LAR stock opened at $6.84 on Friday. Lithium Americas has a 1 year low of $2.97 and a 1 year high of $12.05. The stock’s fifty day moving average is $7.41 and its two-hundred day moving average is $7.91.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period last year, the company posted ($0.03) EPS. Equities analysts anticipate that Lithium Americas will post 0.2 earnings per share for the current year.

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.