Lithium Americas (Argentina) (NYSE:LAR) Stock Rating Upgraded by HSBC

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by research analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Monday,BayStreet.CA reports. The firm presently has a $9.60 target price on the stock, up from their previous target price of $4.75. HSBC’s target price indicates a potential upside of 17.79% from the stock’s previous close.

Several other research analysts also recently commented on the company. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $4.25 to $7.75 in a research note 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. National Bankshares upped their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Stifel Nicolaus lifted their price target on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.44.

Lithium Americas (Argentina) Stock Down 0.5%

Shares of Lithium Americas (Argentina) stock opened at $8.15 on Monday. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $8.67. The company has a 50 day moving average price of $5.78 and a 200 day moving average price of $4.28.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data 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, equities analysts predict that Lithium Americas will post -0.05 EPS for the current year.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the stock. Insigneo Advisory Services LLC acquired a new position in Lithium Americas (Argentina) in the 3rd quarter valued at $34,000. BNP Paribas Financial Markets lifted its stake in shares of Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after purchasing an additional 3,552 shares in the last quarter. Sage Investment Counsel LLC acquired a new position in Lithium Americas (Argentina) during the third quarter valued at approximately $38,000. Stratos Wealth Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at $28,000. Finally, SIH Partners LLLP purchased a new stake in Lithium Americas (Argentina) during the 3rd quarter worth $57,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.