Lithium Americas (Argentina) (NYSE:LAR) Raised to Hold at Wall Street Zen

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

A number of other brokerages have also commented on LAR. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a report on Tuesday, January 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday. National Bank Financial upped their target price on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their price target for the company from $4.25 to $7.75 in a report on Monday, January 12th. Finally, TD Securities lifted their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and an average target price of $7.66.

Lithium Americas (Argentina) Stock Performance

NYSE LAR opened at $6.26 on Friday. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $8.80. The stock’s 50-day moving average is $7.15 and its two-hundred day moving average is $5.64.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LAR. Hsbc Holdings PLC bought a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $107,000. Empowered Funds LLC bought a new position in Lithium Americas (Argentina) during the fourth quarter worth $138,000. XTX Topco Ltd raised its stake in 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 acquired a new position in Lithium Americas (Argentina) during the 4th quarter valued at $304,000. Finally, Quadrature Capital Ltd bought a new stake in Lithium Americas (Argentina) in the 4th quarter valued at $747,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.