Lithium Americas (Argentina) (NYSE:LAR) Trading Up 8% – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price was up 8% during trading on Friday . The company traded as high as $9.77 and last traded at $9.7210. Approximately 674,951 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 3,221,365 shares. The stock had previously closed at $9.00.

Analysts Set New Price Targets

A number of equities analysts have commented on LAR shares. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Scotiabank boosted their target price on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Zacks Research downgraded shares of Lithium Americas (Argentina) from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 9th. Finally, TD Securities boosted their target price on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.13.

Lithium Americas (Argentina) Trading Up 7.2%

The stock has a 50 day moving average price of $9.37 and a two-hundred day moving average price of $7.56.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, research analysts forecast that Lithium Americas will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. grew its stake in shares of Lithium Americas (Argentina) by 538.8% during the fourth 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 last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) during the third quarter worth about $34,000. BNP Paribas Financial Markets grew its stake in shares of Lithium Americas (Argentina) by 45.3% during the third 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. Fifth Third Bancorp grew its stake in shares of Lithium Americas (Argentina) by 250.0% during the fourth quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock worth $78,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter worth about $97,000. Hedge funds and other 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.