Lithium Americas (Argentina) (NYSE:LAR) Upgraded to Strong-Buy at TD Securities

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by TD Securities to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on LAR. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a research report on Tuesday, January 13th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their target price for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. Finally, Stifel Nicolaus raised their price target on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at $6.88 on Monday. The business has a 50 day simple moving average of $6.47 and a 200 day simple moving average of $4.76. Lithium Americas has a one year low of $1.71 and a one year high of $8.80.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings data 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). As a group, sell-side analysts anticipate that Lithium Americas will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the stock. Banque Cantonale Vaudoise raised its position in Lithium Americas (Argentina) by 145.2% during the fourth quarter. Banque Cantonale Vaudoise now owns 77,481 shares of the company’s stock worth $432,000 after acquiring an additional 45,881 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Lithium Americas (Argentina) by 250.0% in the fourth quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock valued at $78,000 after buying an additional 10,000 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after acquiring an additional 5,900 shares during the period. GF Fund Management CO. LTD. acquired a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth approximately $446,000. Finally, FNY Investment Advisers LLC bought a new stake in Lithium Americas (Argentina) in the 4th quarter valued at $553,000. 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.