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

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been given a consensus rating of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $8.1286.

Several brokerages recently weighed in on LAR. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Wall Street Zen raised Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research downgraded Lithium Americas (Argentina) from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 9th. TD Securities lifted their target price on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Scotiabank boosted their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th.

Lithium Americas (Argentina) Stock Performance

NYSE:LAR opened at $7.09 on Tuesday. Lithium Americas has a fifty-two week low of $2.44 and a fifty-two week high of $12.05. The firm has a 50-day simple moving average of $9.25 and a two-hundred day simple moving average of $8.02.

Lithium Americas (Argentina) (NYSE:LAR) last issued its earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, research analysts forecast that Lithium Americas will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several large investors have recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Lithium Americas (Argentina) by 6.8% in 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. boosted its holdings in shares of Lithium Americas (Argentina) by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock valued at $9,975,000 after acquiring an additional 408,065 shares during the last quarter. Invesco Ltd. grew 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 worth $7,790,000 after acquiring an additional 133,572 shares during the period. Millennium Management LLC grew its stake in shares of Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after acquiring an additional 1,793,994 shares during the period. Finally, Seldon Capital LP grew its stake in shares of Lithium Americas (Argentina) by 18.1% in the fourth quarter. Seldon Capital LP now owns 2,148,931 shares of the company’s stock worth $11,992,000 after acquiring an additional 329,242 shares during the period. 49.17% of the stock is currently owned by institutional investors.

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.