Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAR) PT at $7.44

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $7.4417.

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target on the stock in a report on Tuesday, January 13th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their price target for the stock from $4.75 to $9.60 in a research note on Monday, January 19th. Stifel Nicolaus upped their price objective 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. Finally, National Bankshares boosted their price target on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research note on Friday, December 19th.

Lithium Americas (Argentina) Stock Performance

Shares of Lithium Americas (Argentina) stock opened at $7.96 on Tuesday. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $8.80. The company’s fifty day simple moving average is $6.09 and its 200-day simple moving average is $4.45.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently made changes to their positions in the company. Cibc World Market Inc. boosted its position in Lithium Americas (Argentina) by 2.3% in the third quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after buying an additional 2,940 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Lithium Americas (Argentina) by 3.0% in the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after acquiring an additional 3,000 shares in the last quarter. Raymond James Financial Inc. grew its position in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after acquiring an additional 3,214 shares during the last quarter. BNP Paribas Financial Markets grew its position in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after acquiring an additional 3,552 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Lithium Americas (Argentina) by 7.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares in the last quarter. Institutional investors and hedge funds 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.