TD Securities Raises Lithium Americas (Argentina) (NYSE:LAR) Price Target to $9.00

Lithium Americas (Argentina) (NYSE:LAR) had its price target lifted by equities research analysts at TD Securities from $7.00 to $9.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 27.21% from the company’s previous close.

A number of other brokerages have also recently issued reports on LAR. Stifel Nicolaus upped their target price on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $4.25 to $7.75 in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target on the stock in a report on Tuesday, January 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.66.

Lithium Americas (Argentina) Stock Performance

Shares of LAR stock traded up $0.81 during trading on Tuesday, hitting $7.08. The company had a trading volume of 2,808,124 shares, compared to its average volume of 3,245,586. The firm has a market capitalization of $1.15 billion and a P/E ratio of -14.17. Lithium Americas has a one year low of $1.71 and a one year high of $8.80. The stock’s 50-day moving average price is $7.26 and its 200 day moving average price is $5.57.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently added to or reduced their stakes in LAR. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas (Argentina) by 119.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after purchasing an additional 5,219,416 shares in the last quarter. CenterBook Partners LP raised its holdings in Lithium Americas (Argentina) by 102.1% during the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after buying an additional 2,122,035 shares during the last quarter. Seldon Capital LP acquired a new position in Lithium Americas (Argentina) during the third quarter worth $6,076,000. Millennium Management LLC lifted its stake in shares of Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after buying an additional 1,793,994 shares in the last quarter. Finally, Woodline Partners LP bought a new position in shares of Lithium Americas (Argentina) in the first quarter valued at $3,456,000. 49.17% of the stock is owned by institutional investors and hedge funds.

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.