Lithium Americas (Argentina) (NYSE:LAR) Sets New 12-Month High – Time to Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $8.73 and last traded at $8.58, with a volume of 386892 shares. The stock had previously closed at $8.48.

Wall Street Analyst Weigh In

LAR has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their price target for the company from $4.75 to $9.60 in a research note on Monday. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $4.25 to $7.75 in a research note on Monday, January 12th. Stifel Nicolaus upped 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. Finally, National Bankshares lifted their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Stock Performance

The firm’s 50 day simple moving average is $5.95 and its 200 day simple moving average is $4.34. The firm has a market capitalization of $1.40 billion and a price-to-earnings ratio of -17.26.

Lithium Americas (Argentina) (NYSE:LAR) last issued its 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, sell-side analysts forecast that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of hedge funds have recently modified their holdings of the stock. Stratos Wealth Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the second quarter worth about $28,000. Insigneo Advisory Services LLC purchased a new stake in Lithium Americas (Argentina) in the 3rd quarter worth approximately $34,000. JPMorgan Chase & Co. acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth approximately $37,000. Sage Investment Counsel LLC purchased a new position in shares of Lithium Americas (Argentina) during the 3rd quarter valued at approximately $38,000. Finally, 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. Hedge funds and other institutional investors 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.