Lithium Americas (Argentina) (NYSE:LAR) Shares Up 9.1% – Here’s What Happened

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares traded up 9.1% on Monday . The stock traded as high as $6.40 and last traded at $6.2960. 614,904 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 3,192,830 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

LAR has been the topic of several recent research reports. National Bank Financial upped their price objective on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a report on Friday, December 19th. TD Securities raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $4.25 to $7.75 in a research note on Monday, January 12th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.75 to $9.60 in a research note on Monday, January 19th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $7.44.

Lithium Americas (Argentina) Trading Up 7.5%

The firm has a market cap of $1.01 billion and a PE ratio of -12.40. The stock has a fifty day simple moving average of $7.29 and a two-hundred day simple moving average of $5.55.

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its holdings in Lithium Americas (Argentina) by 538.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after purchasing an additional 5,900 shares during the period. Insigneo Advisory Services LLC bought a new position in shares of Lithium Americas (Argentina) in the third quarter worth $34,000. BNP Paribas Financial Markets raised its position in shares of Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after buying an additional 3,552 shares in the last quarter. Sage Investment Counsel LLC bought a new stake in Lithium Americas (Argentina) during the third quarter valued at $38,000. Finally, Fifth Third Bancorp grew its position in Lithium Americas (Argentina) by 250.0% during the fourth quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock worth $78,000 after buying an additional 10,000 shares in the last quarter. 49.17% of the stock is currently owned by hedge funds and other 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.