Lithium Americas (Argentina) (NYSE:LAR) Stock Rating Upgraded by Scotiabank

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by research analysts at Scotiabank from a “sector perform” rating to a “sector outperform” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm presently has a $7.75 target price on the stock, up from their previous target price of $4.25. Scotiabank’s price target would indicate a potential upside of 11.03% from the stock’s previous close.

A number of other research firms have also weighed in on LAR. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. National Bankshares raised their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. Finally, Stifel Nicolaus boosted their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.69.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $6.98 on Monday. The stock has a market cap of $1.13 billion and a price-to-earnings ratio of -13.96. The firm’s 50-day moving average is $5.20 and its two-hundred day moving average is $3.99. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $7.22.

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

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) in the second quarter valued at about $28,000. Insigneo Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at $34,000. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) during the second quarter worth $37,000. Sage Investment Counsel LLC acquired a new position in Lithium Americas (Argentina) during the third quarter valued at $38,000. Finally, BNP Paribas Financial Markets grew its position 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 worth $38,000 after purchasing an additional 3,552 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

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.