Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAR) Price Target at $7.44

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $7.4417.

LAR has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $4.25 to $7.75 in a research report on Monday, January 12th. National Bankshares upped their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Stifel Nicolaus lifted their price target on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday.

Lithium Americas (Argentina) Stock Up 4.0%

LAR opened at $8.48 on Tuesday. The stock’s 50 day moving average price is $5.95 and its 200-day moving average price is $4.34. Lithium Americas has a one year low of $1.71 and a one year high of $8.67.

Lithium Americas (Argentina) (NYSE:LAR) last posted 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). Equities analysts forecast that Lithium Americas will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stratos Wealth Advisors LLC bought a new stake in shares of Lithium Americas (Argentina) in the second quarter valued at about $28,000. Insigneo Advisory Services LLC purchased a new position in Lithium Americas (Argentina) during the 3rd quarter valued at about $34,000. JPMorgan Chase & Co. bought a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at about $37,000. Sage Investment Counsel LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter worth approximately $38,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after purchasing an additional 3,552 shares in the last quarter. Institutional investors own 49.17% of the company’s stock.

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.