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

Lithium Americas (Argentina) Corp. (NYSE:LAR) has earned an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $7.6643.

A number of brokerages have issued reports on LAR. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.75 to $9.60 in a research note on Monday, January 19th. Scotiabank raised 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 note on Monday, January 12th. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Stifel Nicolaus lifted 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. Finally, Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target on the stock in a report on Tuesday, January 13th.

Lithium Americas (Argentina) Stock Performance

Shares of LAR stock opened at $7.54 on Friday. Lithium Americas has a one year low of $1.71 and a one year high of $8.80. The company’s fifty day moving average price is $7.03 and its 200-day moving average price is $5.79.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in Lithium Americas (Argentina) during the fourth quarter valued at $107,000. Empowered Funds LLC bought a new position in shares of Lithium Americas (Argentina) during the 4th quarter valued at about $138,000. XTX Topco Ltd boosted its holdings in shares of Lithium Americas (Argentina) by 33.3% during the 4th quarter. XTX Topco Ltd now owns 88,086 shares of the company’s stock valued at $492,000 after purchasing an additional 22,027 shares during the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of Lithium Americas (Argentina) during the fourth quarter valued at about $304,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth about $747,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

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.