Lithium Americas (Argentina) Corp. (NYSE:LAR) Given Average Rating of “Moderate Buy” by Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $7.4417.

Several equities analysts have issued reports on the stock. National Bank Financial raised their price target on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Stifel Nicolaus upped 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. TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $4.25 to $7.75 in a report on Monday, January 12th.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAR opened at $6.90 on Friday. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $8.80. The firm has a 50 day moving average of $6.70 and a 200 day moving average of $4.94.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at about $572,000. Goldman Sachs Group Inc. acquired a new stake in Lithium Americas (Argentina) in the 1st quarter worth about $1,064,000. Woodline Partners LP purchased a new stake in Lithium Americas (Argentina) during the 1st quarter worth approximately $3,456,000. Stratos Wealth Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the second quarter valued at approximately $28,000. Finally, Boston Partners lifted its position in shares of Lithium Americas (Argentina) by 15.3% in the second quarter. Boston Partners now owns 136,505 shares of the company’s stock valued at $284,000 after acquiring an additional 18,096 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.