Lithium Americas (Argentina) (NYSE:LAR) Shares Up 8.7% – Still a Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares rose 8.7% during trading on Monday . The stock traded as high as $7.92 and last traded at $8.0130. Approximately 934,524 shares were traded during trading, a decline of 73% from the average daily volume of 3,412,003 shares. The stock had previously closed at $7.37.

Analyst Upgrades and Downgrades

LAR has been the topic of several recent research reports. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Stifel Nicolaus raised their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. TD Securities raised 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. Wall Street Zen raised shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Finally, National Bank Financial raised their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average target price of $7.77.

Lithium Americas (Argentina) Trading Up 7.5%

The firm has a market cap of $1.29 billion and a price-to-earnings ratio of -16.86. The company’s 50-day moving average is $6.99 and its 200-day moving average is $5.95.

Institutional Trading of Lithium Americas (Argentina)

Hedge funds have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. boosted its position in Lithium Americas (Argentina) by 538.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after buying an additional 5,900 shares in the last quarter. Insigneo Advisory Services LLC acquired a new stake in Lithium Americas (Argentina) in the third quarter valued at approximately $34,000. BNP Paribas Financial Markets boosted its position in Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares in the last quarter. Sage Investment Counsel LLC acquired a new stake in Lithium Americas (Argentina) in the third quarter valued at approximately $38,000. Finally, Fifth Third Bancorp boosted its position in Lithium Americas (Argentina) by 250.0% in the fourth quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock valued at $78,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds 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.