Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $6.50 at National Bankshares

Lithium Americas (Argentina) (NYSE:LAR) had its price target boosted by equities researchers at National Bankshares from $4.75 to $6.50 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price objective would suggest a potential upside of 21.50% from the company’s previous close.

Several other research firms also recently weighed in on LAR. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, October 8th. Finally, Scotiabank raised their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lithium Americas (Argentina) has an average rating of “Hold” and an average target price of $4.92.

Lithium Americas (Argentina) Trading Up 8.1%

Lithium Americas (Argentina) stock traded up $0.40 during mid-day trading on Friday, hitting $5.35. The stock had a trading volume of 3,205,226 shares, compared to its average volume of 1,875,056. Lithium Americas has a one year low of $1.71 and a one year high of $5.83. The firm has a market capitalization of $868.31 million and a P/E ratio of -10.70. The firm’s 50 day moving average is $4.70 and its 200 day moving average is $3.52.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). As a group, equities research analysts forecast that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

Hedge funds have recently made changes to their positions in the business. Stratos Wealth Advisors LLC purchased a new position in Lithium Americas (Argentina) in the second quarter worth about $28,000. Insigneo Advisory Services LLC bought a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at approximately $34,000. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth approximately $37,000. Sage Investment Counsel LLC bought a new position in shares of Lithium Americas (Argentina) during the 3rd quarter valued at approximately $38,000. Finally, BNP Paribas Financial Markets raised its holdings in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares during the period. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.