Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAR) PT at $7.99

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.9857.

Several analysts recently weighed in on LAR shares. Scotiabank dropped their target price on shares of Lithium Americas (Argentina) from $11.00 to $10.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 28th. Zacks Research cut Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAR opened at $7.12 on Friday. The business has a 50-day moving average price of $7.66 and a 200 day moving average price of $7.96. Lithium Americas has a 12-month low of $2.97 and a 12-month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). Equities analysts predict that Lithium Americas will post 0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new position in Lithium Americas (Argentina) in the 2nd quarter valued at about $37,000. BNP Paribas Financial Markets increased its stake in Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after purchasing an additional 3,552 shares during the period. TD Waterhouse Canada Inc. lifted its position in shares of Lithium Americas (Argentina) by 538.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after purchasing an additional 5,900 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Lithium Americas (Argentina) during the second quarter worth about $40,000. Finally, Raymond James Financial Inc. boosted its stake in shares of Lithium Americas (Argentina) by 14.1% in the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after purchasing an additional 3,214 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.