Lithium Americas (Argentina) (TSE:LAR) Shares Up 7.6% – Should You Buy?

Lithium Americas (Argentina) Corp. (TSE:LAR)’s stock price rose 7.6% during trading on Tuesday . The company traded as high as C$9.28 and last traded at C$9.24. Approximately 139,853 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 307,411 shares. The stock had previously closed at C$8.59.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LAR. Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. HSBC raised Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Finally, TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, February 9th. Four analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Lithium Americas (Argentina) currently has a consensus rating of “Strong Buy”.

Lithium Americas (Argentina) Price Performance

The company’s 50-day simple moving average is C$9.94 and its two-hundred day simple moving average is C$7.68. The firm has a market capitalization of C$1.59 billion, a P/E ratio of -19.60 and a beta of 1.74.

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

Insider Activity at Lithium Americas (Argentina)

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

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’.