Lithium Americas (Argentina) Corp. (NYSE:LAR) Stock Has Average Target Price of $9.32

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $9.32.

LAR has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Stifel Nicolaus boosted their price target on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Scotiabank reduced 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 report on Wednesday, August 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AXQ Capital LP acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter worth $85,000. Modera Wealth Management LLC purchased a new stake in Lithium Americas (Argentina) in the first quarter valued at $97,000. VectorGlobal IAG Inc. acquired a new position in Lithium Americas (Argentina) in the first quarter valued at $100,000. Cetera Investment Advisers boosted its stake in Lithium Americas (Argentina) by 7.0% in the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after acquiring an additional 1,162 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lithium Americas (Argentina) by 62.4% during the first quarter. The Manufacturers Life Insurance Company now owns 61,933 shares of the company’s stock worth $414,000 after purchasing an additional 23,787 shares during the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE:LAR opened at $5.49 on Friday. Lithium Americas has a 52-week low of $3.62 and a 52-week high of $12.05. The business has a fifty day moving average of $6.26 and a two-hundred day moving average of $7.68.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same quarter last year, the firm earned ($0.03) EPS. On average, analysts expect that Lithium Americas will post 0.17 EPS for the current fiscal year.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp. is a lithium development and production company focused on properties in Argentina. Its principal asset is the Cauchari-Olaroz lithium project in Jujuy Province, a large-scale operation that produces lithium carbonate for use in electric vehicle batteries, energy-storage systems and other applications.

Cauchari-Olaroz is operated through Minera Exar, a joint venture involving Lithium Argentina, Ganfeng Lithium and the Jujuy provincial energy and mining company JEMSE.