Lithium Americas (Argentina) (NYSE:LAR) Given New $8.50 Price Target at Stifel Nicolaus

Lithium Americas (Argentina) (NYSE:LAR) had its target price increased by stock analysts at Stifel Nicolaus from $6.00 to $8.50 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 19.05% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. National Bankshares boosted their target price 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 lifted their price target on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research note on Wednesday, November 12th. Finally, Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $5.81.

Lithium Americas (Argentina) Price Performance

Shares of LAR traded up $0.16 during trading hours on Wednesday, hitting $7.14. 2,859,998 shares of the stock were exchanged, compared to its average volume of 4,273,946. The firm has a market capitalization of $1.16 billion and a P/E ratio of -14.28. The business has a 50-day moving average of $5.03 and a 200-day moving average of $3.88. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $7.21.

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

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds have recently added to or reduced their stakes in LAR. Van ECK Associates Corp grew its position in shares of Lithium Americas (Argentina) by 119.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock valued at $32,045,000 after acquiring an additional 5,219,416 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings 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 valued at $9,975,000 after purchasing an additional 408,065 shares during the period. CenterBook Partners LP increased its position in Lithium Americas (Argentina) by 102.1% in the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after buying an additional 2,122,035 shares during the last quarter. Invesco Ltd. increased its position in Lithium Americas (Argentina) by 6.1% in the third quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock worth $7,790,000 after buying an additional 133,572 shares during the last quarter. Finally, Seldon Capital LP purchased a new position in shares of Lithium Americas (Argentina) during the 3rd quarter valued at $6,076,000. 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.