Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Lithium Americas (Argentina) Corp. (NYSE:LAR) has earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.4417.

A number of equities analysts have commented on the stock. National Bank Financial boosted their price objective on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their price target for the company from $4.75 to $9.60 in a report on Monday, January 19th. TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Stifel Nicolaus increased their target price on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, January 7th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LAR. Van ECK Associates Corp grew its stake in Lithium Americas (Argentina) by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock worth $57,202,000 after buying an additional 657,087 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Lithium Americas (Argentina) by 9.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock worth $9,975,000 after purchasing an additional 408,065 shares during the last quarter. CenterBook Partners LP increased its stake in shares of Lithium Americas (Argentina) by 102.1% in the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after purchasing an additional 2,122,035 shares during the period. Invesco Ltd. increased its stake in shares of Lithium Americas (Argentina) by 6.1% in the third quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock valued at $7,790,000 after purchasing an additional 133,572 shares during the period. Finally, Seldon Capital LP bought a new stake in shares of Lithium Americas (Argentina) during the third quarter valued at approximately $6,076,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

NYSE LAR opened at $6.94 on Friday. The company’s fifty day simple moving average is $6.61 and its 200-day simple moving average is $4.84. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $8.80.

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.