Lithium Americas (Argentina) (TSE:LAR) Hits New 1-Year High – Here’s Why

Lithium Americas (Argentina) Corp. (TSE:LAR)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as C$7.77 and last traded at C$7.75, with a volume of 298201 shares changing hands. The stock had previously closed at C$6.74.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LAR shares. Cormark upgraded Lithium Americas (Argentina) to a “moderate buy” rating in a report on Wednesday, August 20th. Scotiabank cut Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Lithium Americas (Argentina) Trading Up 12.9%

The firm’s fifty day moving average price is C$5.58 and its 200 day moving average price is C$4.19. The firm has a market capitalization of C$1.24 billion, a PE ratio of -15.22 and a beta of 1.84.

Lithium Americas (Argentina) (TSE:LAR) last announced its quarterly earnings results on Monday, November 10th. The company reported C($0.40) EPS for the quarter.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.