Lithium Americas (Argentina) Corp. (TSE:LAR) Given Consensus Rating of “Strong Buy” by Analysts

Lithium Americas (Argentina) Corp. (TSE:LAR) has been assigned a consensus rating of “Strong Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is C$13.38.

Several equities analysts recently weighed in on LAR shares. Canaccord Genuity Group raised their target price on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a research note on Tuesday, March 24th. HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, January 19th. Scotiabank raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, TD Securities boosted their price objective 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, March 24th.

Insider Transactions at Lithium Americas (Argentina)

In other Lithium Americas (Argentina) news, insider Ignacio Celorrio sold 50,453 shares of the business’s stock in a transaction that occurred 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 transaction, the insider owned 324,110 shares of the company’s stock, valued at C$3,276,752.10. The trade was a 13.47% decrease in their ownership of the stock. Also, 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 sale, the insider owned 24,754 shares in the company, valued at C$261,649.78. This represents a 55.58% decrease in their position.

Lithium Americas (Argentina) Price Performance

Shares of TSE:LAR opened at C$8.68 on Tuesday. The firm has a fifty day moving average price of C$9.78 and a 200 day moving average price of C$7.80. Lithium Americas has a 1-year low of C$2.36 and a 1-year high of C$12.03. The stock has a market cap of C$1.41 billion, a P/E ratio of -18.47 and a beta of 1.74.

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

Lithium Americas (Argentina) Company Profile

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’.