Lithium Americas (Argentina) (NYSE:LAR) Upgraded at Deutsche Bank Aktiengesellschaft

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage currently has a $8.30 target price on the stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 10.96% from the stock’s previous close.

A number of other brokerages have also recently commented on LAR. National Bankshares upped their price target on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $4.25 to $7.75 in a research note on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Stifel Nicolaus lifted their target price on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.01.

Lithium Americas (Argentina) Trading Up 7.2%

Shares of LAR stock opened at $7.48 on Tuesday. The business’s 50 day simple moving average is $5.27 and its 200 day simple moving average is $4.03. Lithium Americas has a one year low of $1.71 and a one year high of $7.93.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Insigneo Advisory Services LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter worth about $34,000. BNP Paribas Financial Markets increased 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 worth $38,000 after purchasing an additional 3,552 shares in the last quarter. Sage Investment Counsel LLC purchased a new stake in shares of Lithium Americas (Argentina) in the third quarter worth approximately $38,000. Stratos Wealth Advisors LLC bought a new position in shares of Lithium Americas (Argentina) in the second quarter valued at approximately $28,000. Finally, SIH Partners LLLP purchased a new position in shares of Lithium Americas (Argentina) during the third quarter valued at approximately $57,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.