Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $6.50 at National Bankshares

Lithium Americas (Argentina) (NYSE:LAR) had its price objective hoisted by National Bankshares from $4.75 to $6.50 in a report published on Friday morning,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Scotiabank raised their price target on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.92.

Lithium Americas (Argentina) Trading Up 8.7%

LAR opened at $5.38 on Friday. The business’s fifty day moving average is $4.72 and its two-hundred day moving average is $3.54. Lithium Americas has a one year low of $1.71 and a one year high of $5.83.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Analysts forecast that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirabella Financial Services LLP acquired a new position in shares of Lithium Americas (Argentina) during the third quarter worth about $189,000. Seldon Capital LP acquired a new stake in Lithium Americas (Argentina) in the third quarter valued at approximately $6,076,000. SIH Partners LLLP purchased a new stake in shares of Lithium Americas (Argentina) during the third quarter valued at approximately $57,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Lithium Americas (Argentina) by 4.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 96,068 shares of the company’s stock valued at $321,000 after purchasing an additional 4,272 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Lithium Americas (Argentina) by 214.3% during the third quarter. Millennium Management LLC now owns 406,728 shares of the company’s stock worth $1,357,000 after purchasing an additional 277,300 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.