Lithium Americas (Argentina) (TSE:LAR) Hits New 52-Week High – What’s Next?

Shares of Lithium Americas (Argentina) Corp. (TSE:LAR) hit a new 52-week high on Wednesday . The stock traded as high as C$7.77 and last traded at C$7.75, with a volume of 298201 shares changing hands. The stock had previously closed at C$6.74.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LAR shares. Scotiabank lowered shares of Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a report on Wednesday, August 13th. Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Finally, National Bank Financial upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Lithium Americas (Argentina) Stock Performance

The company has a 50 day moving average of C$5.70 and a 200-day moving average of C$4.24. The stock has a market cap of C$1.11 billion, a price-to-earnings ratio of -13.70 and a beta of 1.84.

Lithium Americas (Argentina) (TSE:LAR) last issued its quarterly earnings results on Monday, November 10th. The company reported C($0.40) earnings per share (EPS) for the quarter.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.