Lithium Americas (Argentina) (NYSE:LAR) Stock Rating Upgraded by Hsbc Global Res

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by equities researchers at Hsbc Global Res to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.75 to $9.60 in a research note on Monday. Stifel Nicolaus boosted their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $4.25 to $7.75 in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.44.

Lithium Americas (Argentina) Trading Down 0.5%

Shares of LAR opened at $8.15 on Monday. The business’s fifty day simple moving average is $5.78 and its two-hundred day simple moving average is $4.28. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $8.67.

Lithium Americas (Argentina) (NYSE:LAR) last posted 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). Equities analysts expect that Lithium Americas will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cibc World Market Inc. increased its stake in shares of Lithium Americas (Argentina) by 2.3% in the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock worth $428,000 after purchasing an additional 2,940 shares in the last quarter. Brown Advisory Inc. lifted its position in Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after purchasing an additional 3,000 shares in the last quarter. Raymond James Financial Inc. lifted its position in Lithium Americas (Argentina) by 14.1% during the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after purchasing an additional 3,214 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Lithium Americas (Argentina) by 45.3% during the third 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. Finally, Northwestern Mutual Wealth Management Co. increased its position in Lithium Americas (Argentina) by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after buying an additional 3,575 shares in the last quarter. Hedge funds and other institutional investors 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.