Lithium Americas (Argentina) (NYSE:LAR) Stock Price Up 5.7% Following Analyst Upgrade

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price was up 5.7% during trading on Thursday after Scotiabank raised their price target on the stock from $3.50 to $4.25. Scotiabank currently has a sector perform rating on the stock. Lithium Americas (Argentina) traded as high as $4.49 and last traded at $4.43. Approximately 1,902,104 shares were traded during trading, an increase of 11% from the average daily volume of 1,709,993 shares. The stock had previously closed at $4.19.

Several other equities research analysts also recently weighed in on LAR. BMO Capital Markets raised their price target on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a “market perform” rating in a research report on Tuesday, August 12th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. National Bankshares upgraded Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $2.90 to $4.50 in a report on Tuesday, August 12th. National Bank Financial raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $4.25.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Lithium Americas (Argentina) by 9.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock worth $9,975,000 after acquiring an additional 408,065 shares in the last quarter. CenterBook Partners LP raised its holdings in Lithium Americas (Argentina) by 102.1% in the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after purchasing an additional 2,122,035 shares in the last quarter. Hancock Prospecting Pty Ltd purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at about $5,368,000. Invesco Ltd. grew its position in shares of Lithium Americas (Argentina) by 42.3% in the 2nd quarter. Invesco Ltd. now owns 2,198,736 shares of the company’s stock worth $4,573,000 after buying an additional 653,351 shares during the last quarter. Finally, Woodline Partners LP acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $3,456,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Stock Up 5.0%

The business has a 50-day moving average price of $3.91 and a 200-day moving average price of $2.96. The firm has a market capitalization of $714.12 million and a price-to-earnings ratio of -8.80.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). On average, equities research analysts forecast that Lithium Americas will post -0.05 earnings per share for the current year.

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.