Lithium Americas (Argentina) (TSE:LAR) Stock Price Up 8.8% – What’s Next?

Shares of Lithium Americas (Argentina) Corp. (TSE:LAR) were up 8.8% during trading on Thursday . The company traded as high as C$10.65 and last traded at C$10.65. Approximately 195,985 shares changed hands during trading, a decline of 39% from the average daily volume of 323,074 shares. The stock had previously closed at C$9.79.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LAR shares. Scotiabank raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. HSBC raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, January 19th. TD Securities lifted their price objective on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Canaccord Genuity Group boosted their target price on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Three analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of C$13.38.

Lithium Americas (Argentina) Trading Up 6.4%

The stock has a 50-day simple moving average of C$9.66 and a 200 day simple moving average of C$7.91. The stock has a market capitalization of C$1.69 billion, a price-to-earnings ratio of -22.17 and a beta of 1.74.

Lithium Americas (Argentina) (TSE:LAR) last issued its earnings results on Monday, March 23rd. The company reported C$0.01 earnings per share for the quarter.

Insider Buying and Selling

In other news, insider Daniel Cherniak sold 30,977 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the transaction, the insider directly owned 24,754 shares in the company, valued at C$261,649.78. The trade was a 55.58% decrease in their position. Also, insider Ignacio Celorrio sold 50,453 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the transaction, the insider directly owned 324,110 shares in the company, valued at C$3,276,752.10. This trade represents a 13.47% decrease in their ownership of the stock.

About Lithium Americas (Argentina)

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.