Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Up – Here’s Why

Lithium Americas (Argentina) Corp. (NYSE:LAR) gapped up prior to trading on Monday . The stock had previously closed at $6.25, but opened at $6.52. Lithium Americas (Argentina) shares last traded at $6.6250, with a volume of 1,326,648 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. National Bank Financial increased 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 note on Friday, December 19th. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. Finally, Stifel Nicolaus upped their price target on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.66.

Lithium Americas (Argentina) Trading Up 6.5%

The firm’s fifty day moving average price is $7.15 and its 200-day moving average price is $5.67. The company has a market cap of $1.08 billion and a price-to-earnings ratio of -14.07.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of Lithium Americas (Argentina) by 6.8% in the 4th quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock valued at $57,202,000 after purchasing an additional 657,087 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithium Americas (Argentina) by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock worth $9,975,000 after acquiring an additional 408,065 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Lithium Americas (Argentina) by 102.1% during the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after acquiring an additional 2,122,035 shares during the period. Invesco Ltd. grew its position in shares of Lithium Americas (Argentina) by 6.1% in the third quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock valued at $7,790,000 after purchasing an additional 133,572 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after purchasing an additional 1,793,994 shares during the last quarter. 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.