Lithium Americas (Argentina) (NYSE:LAR) Stock Price Up 8.7% – Should You Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) shot up 8.7% during trading on Tuesday . The company traded as high as $6.65 and last traded at $6.62. 719,170 shares changed hands during trading, a decline of 73% from the average session volume of 2,636,554 shares. The stock had previously closed at $6.09.

Analyst Ratings Changes

Several brokerages have issued reports on LAR. National Bankshares lifted their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Scotiabank upped their price target on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research report on Wednesday, November 12th. Finally, Stifel Nicolaus increased their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Hold” and a consensus price target of $5.81.

Lithium Americas (Argentina) Stock Down 0.7%

The firm has a fifty day moving average of $5.09 and a 200-day moving average of $3.91. The firm has a market cap of $1.14 billion and a P/E ratio of -14.10.

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

Hedge Funds Weigh In On Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in Lithium Americas (Argentina) by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 345,598 shares of the company’s stock worth $1,928,000 after acquiring an additional 5,555 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Lithium Americas (Argentina) by 58.0% during the third quarter. JPMorgan Chase & Co. now owns 27,728 shares of the company’s stock worth $93,000 after purchasing an additional 10,176 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of Lithium Americas (Argentina) during the third quarter worth $189,000. Seldon Capital LP bought a new stake in Lithium Americas (Argentina) in the third quarter valued at about $6,076,000. Finally, SIH Partners LLLP bought a new stake in Lithium Americas (Argentina) in the third quarter valued at about $57,000. 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.