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

Lithium Americas (Argentina) Corp. (NYSE:LAR) has earned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $8.1286.

LAR has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. TD Securities lifted their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Zacks Research downgraded shares of Lithium Americas (Argentina) from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Finally, Scotiabank lifted their price objective on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAR opened at $9.15 on Friday. The firm has a fifty day moving average price of $9.53 and a two-hundred day moving average price of $7.69. Lithium Americas has a one year low of $1.90 and a one year high of $12.05.

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

Institutional Trading of Lithium Americas (Argentina)

Hedge funds have recently made changes to their positions in the stock. TD Waterhouse Canada Inc. lifted its holdings in shares of Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after acquiring an additional 5,900 shares during the last quarter. Insigneo Advisory Services LLC bought a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter worth $34,000. BNP Paribas Financial Markets lifted its holdings in shares of Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after acquiring an additional 3,552 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Lithium Americas (Argentina) by 250.0% during the 4th quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock worth $78,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Modera Wealth Management LLC bought a new stake in Lithium Americas (Argentina) in the first quarter worth $97,000. 49.17% of the stock is owned by institutional investors.

About Lithium Americas (Argentina)

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.