Lithium Americas (Argentina) (NYSE:LAR) Raised to Buy at Deutsche Bank Aktiengesellschaft

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage presently has a $8.30 target price on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential downside of 0.84% from the company’s previous close.

A number of other brokerages have also recently issued reports on LAR. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. 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. Stifel Nicolaus upped their price target on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, January 7th. National Bankshares raised their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. Finally, Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $4.25 to $7.75 in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.01.

Lithium Americas (Argentina) Stock Performance

NYSE LAR opened at $8.37 on Tuesday. Lithium Americas has a twelve month low of $1.71 and a twelve month high of $8.67. The stock’s 50-day simple moving average is $5.45 and its two-hundred day simple moving average is $4.10.

Lithium Americas (Argentina) (NYSE:LAR) last issued its 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). Research analysts predict that Lithium Americas will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $1,064,000. Wealth Enhancement Advisory Services LLC lifted its stake in Lithium Americas (Argentina) by 23.8% in the second 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 period. Boston Partners lifted its stake in Lithium Americas (Argentina) by 15.3% in the second quarter. Boston Partners now owns 136,505 shares of the company’s stock worth $284,000 after acquiring an additional 18,096 shares during the period. Stratos Wealth Advisors LLC bought a new stake in Lithium Americas (Argentina) in the second quarter valued at $28,000. Finally, Perigon Wealth Management LLC purchased a new position in Lithium Americas (Argentina) during the 2nd quarter valued at $41,000. Institutional investors own 49.17% of the company’s stock.

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.