Lithium Americas (Argentina) (NYSE:LAR) Upgraded at Scotiabank

Scotiabank upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a sector perform rating to a sector outperform rating in a research note issued to investors on Monday morning, MarketBeat reports. Scotiabank currently has $7.75 price objective on the stock, up from their previous price objective of $4.25.

Several other brokerages have also recently issued reports on LAR. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Stifel Nicolaus raised their price target on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, National Bankshares upped their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and a consensus target price of $7.01.

Lithium Americas (Argentina) Stock Up 2.7%

Lithium Americas (Argentina) stock opened at $8.37 on Monday. Lithium Americas has a one year low of $1.71 and a one year high of $8.67. The business’s fifty day moving average is $5.45 and its 200 day moving average is $4.10.

Lithium Americas (Argentina) (NYSE:LAR) last posted its earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). As a group, research analysts anticipate that Lithium Americas will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently bought and sold shares of the stock. Cibc World Market Inc. lifted its position in Lithium Americas (Argentina) by 2.3% during the third quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after purchasing an additional 2,940 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Lithium Americas (Argentina) by 3.0% during the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after buying an additional 3,000 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after buying an additional 3,214 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after acquiring an additional 3,575 shares in the last quarter. 49.17% of the stock is owned by institutional investors.

About Lithium Americas (Argentina)

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.