Lithium Americas (Argentina) Corp. (TSE:LAR) Given Consensus Recommendation of “Strong Buy” by Brokerages

Lithium Americas (Argentina) Corp. (TSE:LAR) has earned an average rating of “Strong Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$13.38.

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a report on Tuesday. Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. HSBC raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, January 19th. Finally, TD Securities lifted their target price on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a report on Tuesday.

Lithium Americas (Argentina) Stock Performance

Shares of LAR traded up C$1.04 during mid-day trading on Tuesday, reaching C$9.63. 585,919 shares of the company’s stock traded hands, compared to its average volume of 315,017. The business’s 50-day moving average price is C$9.94 and its 200-day moving average price is C$7.68. The stock has a market capitalization of C$1.56 billion, a P/E ratio of -19.26 and a beta of 1.74. Lithium Americas has a 12 month low of C$2.36 and a 12 month high of C$12.03.

Lithium Americas (Argentina) (TSE:LAR) last posted its earnings results on Monday, March 23rd. The company reported C$0.01 EPS for the quarter.

Insider Activity at Lithium Americas (Argentina)

In other Lithium Americas (Argentina) news, insider Ignacio Celorrio sold 50,453 shares of Lithium Americas (Argentina) stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$10.11, for a total value of C$510,079.83. Following the transaction, the insider owned 324,110 shares in the company, valued at approximately C$3,276,752.10. The trade was a 13.47% decrease in their ownership of the stock. Also, insider Daniel Cherniak sold 30,977 shares of the company’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total value of C$327,426.89. Following the completion of the transaction, the insider directly owned 24,754 shares in the company, valued at C$261,649.78. This represents a 55.58% decrease in their position.

About Lithium Americas (Argentina)

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.