Lithium Americas (Argentina) Corp. (NYSE:LAR) Given Average Recommendation of “Hold” by Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have been given an average rating of “Hold” by the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $4.25.

Several brokerages have recently weighed in on LAR. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. BMO Capital Markets boosted their price target on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 12th. National Bank Financial raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. Finally, Scotiabank boosted their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a report on Wednesday, November 12th.

Lithium Americas (Argentina) Stock Up 1.5%

NYSE LAR opened at $5.56 on Monday. The firm’s 50 day moving average is $4.35 and its 200-day moving average is $3.21. The company has a market capitalization of $902.39 million and a PE ratio of -11.12. Lithium Americas has a 12-month low of $1.71 and a 12-month high of $5.68.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently modified their holdings of LAR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $92,000. Banco Santander S.A. bought a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $46,000. Swiss National Bank acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $474,000. National Bank of Canada FI bought a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $244,000. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $70,000. 49.17% of the stock is owned by institutional investors.

About Lithium Americas (Argentina)

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.