Lithium Americas (Argentina) (NYSE:LAR) Trading Up 5.2% After Analyst Upgrade

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price rose 5.2% during trading on Tuesday after Deutsche Bank Aktiengesellschaft upgraded the stock from a hold rating to a buy rating. Deutsche Bank Aktiengesellschaft now has a $8.30 price target on the stock. Lithium Americas (Argentina) traded as high as $8.16 and last traded at $7.88. Approximately 1,997,986 shares changed hands during trading, a decline of 51% from the average daily volume of 4,085,585 shares. The stock had previously closed at $7.49.

Several other equities research analysts also recently weighed in on LAR. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Stifel Nicolaus boosted their price objective on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. National Bankshares upped 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. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $4.25 to $7.75 in a research report on Monday. Finally, Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.01.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently added to or reduced their stakes in the stock. Cibc World Market Inc. grew its position in shares of Lithium Americas (Argentina) by 2.3% during the third quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock worth $428,000 after acquiring an additional 2,940 shares during the last quarter. Brown Advisory Inc. grew its position in Lithium Americas (Argentina) by 3.0% in the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after purchasing an additional 3,000 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Lithium Americas (Argentina) by 14.1% in the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after purchasing an additional 3,214 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after buying an additional 3,575 shares during the last quarter. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Trading Up 2.7%

The company has a 50-day moving average price of $5.45 and a 200-day moving average price of $4.10.

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

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.