Stifel Nicolaus Forecasts Strong Price Appreciation for Lithium Americas (Argentina) (NYSE:LAR) Stock

Lithium Americas (Argentina) (NYSE:LAR) had its price target increased by equities researchers at Stifel Nicolaus from $6.00 to $8.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 20.57% from the company’s previous close.

Several other brokerages have also issued reports on LAR. Scotiabank lifted their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research report on Wednesday, November 12th. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Finally, National Bankshares increased their target price on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.81.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $7.05 on Wednesday. The business has a 50 day simple moving average of $5.14 and a 200-day simple moving average of $3.93. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $7.22.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $572,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lithium Americas (Argentina) during the first quarter worth $9,308,000. Goldman Sachs Group Inc. purchased a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $1,064,000. Woodline Partners LP acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth $3,456,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Lithium Americas (Argentina) by 23.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 342,513 shares of the company’s stock worth $712,000 after acquiring an additional 65,783 shares during the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.