Lithium Americas (Argentina) (NYSE:LAR) Reaches New 52-Week High Following Analyst Upgrade

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price hit a new 52-week high during mid-day trading on Monday after National Bankshares raised their price target on the stock from $4.75 to $6.50. National Bankshares currently has an outperform rating on the stock. Lithium Americas (Argentina) traded as high as $5.86 and last traded at $5.69, with a volume of 531506 shares traded. The stock had previously closed at $5.42.

Several other equities research analysts also recently issued reports on LAR. Scotiabank upped their price target on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.92.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently made changes to their positions in LAR. Van ECK Associates Corp boosted its position in shares of Lithium Americas (Argentina) by 119.3% during the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock valued at $32,045,000 after purchasing an additional 5,219,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth $9,308,000. Hancock Prospecting Pty Ltd purchased a new position in Lithium Americas (Argentina) in the 1st quarter worth about $5,368,000. CenterBook Partners LP boosted its holdings in shares of Lithium Americas (Argentina) by 102.1% during the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after acquiring an additional 2,122,035 shares during the last quarter. Finally, Seldon Capital LP bought a new stake in Lithium Americas (Argentina) in the 3rd quarter worth approximately $6,076,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Up 2.4%

The business has a fifty day simple moving average of $4.72 and a two-hundred day simple moving average of $3.57. The company has a market cap of $900.77 million and a P/E ratio of -11.10.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, equities analysts predict that Lithium Americas will post -0.05 EPS for the current fiscal year.

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.