Lithium Americas (Argentina) (NYSE:LAR) Trading 11% Higher – Time to Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) traded up 11% on Friday . The company traded as high as $4.56 and last traded at $4.55. 1,023,755 shares were traded during trading, a decline of 37% from the average session volume of 1,625,797 shares. The stock had previously closed at $4.10.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. National Bankshares upgraded Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $2.90 to $4.50 in a research report on Tuesday, August 12th. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Scotiabank reaffirmed a “sector perform” rating and set a $3.50 price objective (up from $3.00) on shares of Lithium Americas (Argentina) in a research note on Wednesday, August 13th. Finally, BMO Capital Markets raised their price objective on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.00.

Lithium Americas (Argentina) Stock Performance

The stock has a 50 day moving average price of $3.70 and a 200-day moving average price of $2.77.

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently modified their holdings of the business. Sage Investment Counsel LLC bought a new stake in shares of Lithium Americas (Argentina) in the third quarter worth about $38,000. Sterling Investment Counsel LLC bought a new stake in shares of Lithium Americas (Argentina) in the third quarter worth about $92,000. Osaic Holdings Inc. grew its stake in shares of Lithium Americas (Argentina) by 24.1% in the second quarter. Osaic Holdings Inc. now owns 38,027 shares of the company’s stock worth $79,000 after purchasing an additional 7,378 shares during the last quarter. Orion Resource Partners LP grew its stake in shares of Lithium Americas (Argentina) by 619.0% in the second quarter. Orion Resource Partners LP now owns 345,155 shares of the company’s stock worth $718,000 after purchasing an additional 297,150 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Lithium Americas (Argentina) by 164.3% in the second quarter. Balyasny Asset Management L.P. now owns 199,553 shares of the company’s stock worth $415,000 after purchasing an additional 124,064 shares during the last quarter. 49.17% of the stock is owned by institutional investors.

About Lithium Americas (Argentina)

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.