Lithium Americas (Argentina) (NYSE:LAR) Trading 5.2% Higher on Analyst Upgrade

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price shot up 5.2% during trading on Tuesday after Deutsche Bank Aktiengesellschaft upgraded the stock from a hold rating to a buy rating. Deutsche Bank Aktiengesellschaft now has a $8.30 price target on the stock. Lithium Americas (Argentina) traded as high as $8.16 and last traded at $7.88. 1,997,986 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 4,085,585 shares. The stock had previously closed at $7.49.

LAR has been the topic of several other research reports. Stifel Nicolaus lifted their target price on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, January 7th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. National Bankshares upped their price target 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. Finally, Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $4.25 to $7.75 in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.01.

Institutional Trading of Lithium Americas (Argentina)

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Lithium Americas (Argentina) by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 345,598 shares of the company’s stock worth $1,928,000 after purchasing an additional 5,555 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Lithium Americas (Argentina) by 58.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,728 shares of the company’s stock worth $93,000 after buying an additional 10,176 shares in the last quarter. Mirabella Financial Services LLP bought a new position in shares of Lithium Americas (Argentina) in the 3rd quarter worth $189,000. Seldon Capital LP purchased a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter valued at $6,076,000. Finally, SIH Partners LLLP bought a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter worth $57,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Up 6.8%

The firm’s 50-day moving average is $5.27 and its 200-day moving average is $4.03. The company has a market capitalization of $1.30 billion and a PE ratio of -16.00.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). As a group, equities research analysts predict that Lithium Americas will post -0.05 EPS for the current year.

Lithium Americas (Argentina) Company Profile

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.