Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives $9.32 Average Price Target from Analysts

Lithium Americas (Argentina) Corp. (NYSE:LAR) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.3167.

Several equities research analysts recently commented on the stock. Scotiabank cut their price target on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 12th. Stifel Nicolaus raised their price objective on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAR. AXQ Capital LP purchased a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at $85,000. BNP Paribas Financial Markets grew its position in Lithium Americas (Argentina) by 45.3% during the 3rd 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 last quarter. Fifth Third Bancorp increased its stake 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 purchasing an additional 10,000 shares during the period. Modera Wealth Management LLC acquired a new position in Lithium Americas (Argentina) in the first quarter valued at $97,000. Finally, VectorGlobal IAG Inc. purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at about $100,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Up 0.3%

Shares of LAR opened at $6.81 on Wednesday. The company has a market capitalization of $1.12 billion and a price-to-earnings ratio of -20.03. Lithium Americas has a 52-week low of $2.97 and a 52-week high of $12.05. The stock has a 50 day moving average price of $6.76 and a 200 day moving average price of $7.87.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same period in the prior year, the business earned ($0.03) EPS. On average, equities analysts anticipate that Lithium Americas will post 0.17 EPS for the current fiscal year.

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.