Lithium Americas (Argentina) (TSE:LAR) Sets New 1-Year High – Time to Buy?

Lithium Americas (Argentina) Corp. (TSE:LAR) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$16.45 and last traded at C$16.36, with a volume of 163274 shares changing hands. The stock had previously closed at C$16.00.

Analysts Set New Price Targets

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

Lithium Americas (Argentina) Stock Up 1.0%

The company’s 50 day moving average price is C$10.75 and its two-hundred day moving average price is C$9.05. The firm has a market cap of C$2.62 billion, a PE ratio of -34.38 and a beta of 1.88.

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

Lithium Americas (Argentina) Company Profile

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’.