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

Lithium Americas (Argentina) Corp. (NYSE:LAR) has earned a consensus recommendation of “Moderate Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.4417.

A number of equities analysts have commented on the company. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.75 to $9.60 in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a report on Tuesday, January 13th. Finally, Stifel Nicolaus boosted their target price 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.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at about $1,064,000. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of 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 last quarter. Boston Partners boosted its stake in shares of Lithium Americas (Argentina) by 15.3% in the 2nd quarter. Boston Partners now owns 136,505 shares of the company’s stock valued at $284,000 after purchasing an additional 18,096 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at approximately $28,000. Finally, Perigon Wealth Management LLC bought a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter valued at approximately $41,000. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Price Performance

NYSE LAR opened at $8.20 on Tuesday. The firm has a 50-day moving average price of $5.70 and a two-hundred day moving average price of $4.24. Lithium Americas has a 12-month low of $1.71 and a 12-month high of $8.67.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, research analysts predict 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.