Lithium Americas (Argentina) (NYSE:LAR) Shares Up 9.8% – Here’s Why

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price traded up 9.8% during trading on Tuesday . The company traded as high as $7.90 and last traded at $7.86. Approximately 1,666,721 shares were traded during trading, a decline of 51% from the average session volume of 3,416,557 shares. The stock had previously closed at $7.16.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LAR shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and upped their price target for the stock from $4.25 to $7.75 in a research note on Monday, January 12th. TD Securities raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, February 9th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.75 to $9.60 in a research report on Monday, January 19th. Finally, National Bank Financial upped their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.44.

Lithium Americas (Argentina) Trading Up 9.1%

The firm’s 50-day moving average price is $6.82 and its 200-day moving average price is $5.05. The stock has a market capitalization of $1.27 billion and a PE ratio of -15.62.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Large investors have recently modified their holdings of the stock. Royal Bank of Canada purchased a new stake in Lithium Americas (Argentina) during the 1st quarter valued at $572,000. Goldman Sachs Group Inc. bought a new position in Lithium Americas (Argentina) during the first quarter valued at $1,064,000. Woodline Partners LP purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at $3,456,000. Boston Partners raised its stake in shares of Lithium Americas (Argentina) by 15.3% in the second quarter. Boston Partners now owns 136,505 shares of the company’s stock valued at $284,000 after acquiring an additional 18,096 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter worth about $37,000. Institutional investors own 49.17% of the company’s stock.

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.