Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAR) PT at $8.13

Lithium Americas (Argentina) Corp. (NYSE:LAR) has received a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $8.1286.

LAR has been the topic of a number of research analyst reports. Scotiabank increased their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. TD Securities increased their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday, March 23rd. Zacks Research lowered Lithium Americas (Argentina) from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th.

Lithium Americas (Argentina) Stock Down 1.9%

Lithium Americas (Argentina) stock opened at $8.01 on Friday. The business has a 50 day moving average price of $9.62 and a two-hundred day moving average price of $7.81. Lithium Americas has a 12 month low of $1.98 and a 12 month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). Equities research analysts forecast that Lithium Americas will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Insigneo Advisory Services LLC acquired a new position in shares of Lithium Americas (Argentina) in the 3rd quarter valued at $34,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $37,000. BNP Paribas Financial Markets lifted its stake in shares of Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after purchasing an additional 3,552 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of 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. Finally, Diversify Advisory Services LLC acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.