Lithium Americas (Argentina) (NYSE:LAR) Trading Up 8.2% – Should You Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price traded up 8.2% during mid-day trading on Tuesday . The stock traded as high as $5.18 and last traded at $5.16. 2,094,883 shares were traded during trading, an increase of 15% from the average session volume of 1,822,596 shares. The stock had previously closed at $4.77.

Analyst Upgrades and Downgrades

LAR has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. National Bank Financial raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, National Bankshares raised shares of Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $2.90 to $4.50 in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lithium Americas (Argentina) presently has an average rating of “Hold” and a consensus target price of $4.25.

Lithium Americas (Argentina) Price Performance

The company has a 50 day simple moving average of $4.17 and a 200-day simple moving average of $3.12. The firm has a market cap of $847.21 million and a PE ratio of -10.44.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Stratos Wealth Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter worth about $28,000. Sandhill Capital Partners LLC bought a new position in Lithium Americas (Argentina) in the first quarter worth about $29,000. Insigneo Advisory Services LLC bought a new stake in Lithium Americas (Argentina) during the 3rd quarter valued at approximately $34,000. JPMorgan Chase & Co. bought a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth approximately $37,000. Finally, Sage Investment Counsel LLC bought a new stake in shares of Lithium Americas (Argentina) during the third quarter valued at approximately $38,000. Institutional investors own 49.17% of the company’s stock.

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.