Lithium Americas (Argentina) (TSE:LAR) Price Target Raised to C$17.75

Lithium Americas (Argentina) (TSE:LAR) had its target price lifted by Canaccord Genuity Group from C$17.50 to C$17.75 in a research report report published on Tuesday morning,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

LAR has been the topic of a number of other reports. TD Securities upped their target price on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research report on Tuesday. HSBC raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Scotiabank upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Strong Buy” and an average price target of C$13.38.

Lithium Americas (Argentina) Stock Down 4.9%

TSE LAR opened at C$9.51 on Tuesday. Lithium Americas has a twelve month low of C$2.36 and a twelve month high of C$12.03. The firm has a market capitalization of C$1.54 billion, a PE ratio of -19.02 and a beta of 1.74. The stock’s 50 day moving average is C$9.84 and its 200 day moving average is C$7.74.

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

Insiders Place Their Bets

In other news, insider Daniel Cherniak sold 30,977 shares of Lithium Americas (Argentina) stock in a transaction dated Wednesday, January 28th. The stock was 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 owned 24,754 shares of the company’s stock, valued at C$261,649.78. The trade was a 55.58% decrease in their position. Also, insider Ignacio Celorrio sold 50,453 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of 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 position.

Lithium Americas (Argentina) Company Profile

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’.