Canaccord Genuity Group Forecasts Strong Price Appreciation for Lithium Americas (Argentina) (TSE:LAR) Stock

Lithium Americas (Argentina) (TSE:LAR) had its price objective hoisted by analysts at Canaccord Genuity Group from C$17.50 to C$17.75 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 77.50% from the company’s previous close.

Several other analysts have also issued reports on the stock. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th. Finally, TD Securities lifted their price target on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Buy” and an average price target of C$13.38.

Lithium Americas (Argentina) Stock Performance

LAR stock opened at C$10.00 on Tuesday. The company has a market cap of C$1.62 billion, a price-to-earnings ratio of -20.00 and a beta of 1.74. The business’s 50-day moving average is C$9.88 and its two-hundred day moving average is C$7.73. Lithium Americas has a fifty-two week low of C$2.36 and a fifty-two week high of C$12.03.

Lithium Americas (Argentina) (TSE:LAR) last released its quarterly earnings results on Monday, March 23rd. The company reported C$0.01 earnings per share (EPS) for the quarter.

Insider Activity at Lithium Americas (Argentina)

In other Lithium Americas (Argentina) news, insider Daniel Cherniak sold 30,977 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total value of C$327,426.89. Following the completion of the transaction, the insider directly owned 24,754 shares in the company, valued at C$261,649.78. This represents a 55.58% decrease in their ownership of the stock. Also, insider Ignacio Celorrio sold 50,453 shares of the stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the sale, the insider directly owned 324,110 shares of the company’s stock, valued at approximately C$3,276,752.10. This trade represents a 13.47% decrease in their ownership of the stock.

About Lithium Americas (Argentina)

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.