Lithium Americas (Argentina) (TSE:LAR) Trading 7% Higher – What’s Next?

Lithium Americas (Argentina) Corp. (TSE:LAR)’s share price was up 7% during mid-day trading on Tuesday . The stock traded as high as C$8.90 and last traded at C$8.85. 166,514 shares were traded during trading, a decline of 38% from the average daily volume of 268,937 shares. The stock had previously closed at C$8.27.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group lifted their price objective on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a “buy” rating in a report on Tuesday, March 24th. TD Securities boosted 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 report on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Buy” and a consensus price target of C$13.38.

Lithium Americas (Argentina) Stock Up 7.0%

The firm has a market cap of C$1.45 billion, a PE ratio of -23.29 and a beta of 2.44. The company has a 50-day simple moving average of C$12.16 and a two-hundred day simple moving average of C$11.16.

Lithium Americas (Argentina) (TSE:LAR) last released its earnings results on Tuesday, May 12th. The company reported C$0.07 EPS 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’.