Lithium Americas (Argentina) (TSE:LAR) Reaches New 52-Week High – What’s Next?

Lithium Americas (Argentina) Corp. (TSE:LAR) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$16.45 and last traded at C$16.36, with a volume of 163274 shares changing hands. The stock had previously closed at C$16.00.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Scotiabank raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Canaccord Genuity Group raised their target price on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a research note on Tuesday, March 24th. HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Finally, TD Securities increased their price objective on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus price target of C$13.38.

Lithium Americas (Argentina) Trading Up 1.0%

The firm has a market cap of C$2.62 billion, a P/E ratio of -34.38 and a beta of 1.88. The stock has a 50 day simple moving average of C$10.75 and a 200-day simple moving average of C$9.05.

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

About Lithium Americas (Argentina)

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’.