Lithium Americas (Argentina) Corp. (NYSE:LAR) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has earned an average recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.07.

Several research firms have recently commented on LAR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. Scotiabank cut their price objective on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a report on Wednesday, August 12th. National Bank Financial cut their price target on Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Stifel Nicolaus raised their price target on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th.

Lithium Americas (Argentina) Stock Down 0.8%

Shares of NYSE:LAR opened at $4.54 on Thursday. The stock has a market cap of $745.83 million and a P/E ratio of -13.37. The business’s 50 day moving average is $5.68 and its 200 day moving average is $7.34. Lithium Americas has a 52-week low of $3.62 and a 52-week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last issued 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 period last year, the business earned ($0.03) earnings per share. On average, sell-side analysts anticipate that Lithium Americas will post 0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ABN Amro Investment Solutions purchased a new position in Lithium Americas (Argentina) in the 1st quarter valued at about $6,335,000. Renaissance Technologies LLC bought a new position in Lithium Americas (Argentina) in the 1st quarter worth about $5,328,000. Bank of America Corp DE increased its holdings in shares of Lithium Americas (Argentina) by 45.4% during the first quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock valued at $4,475,000 after purchasing an additional 209,252 shares during the period. Robertson Stephens Wealth Management LLC increased its stake in Lithium Americas (Argentina) by 1,042.6% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock valued at $878,000 after buying an additional 145,606 shares during the period. Finally, Engineers Gate Manager LP increased its stake in shares of Lithium Americas (Argentina) by 44.0% during the second quarter. Engineers Gate Manager LP now owns 101,063 shares of the company’s stock valued at $836,000 after acquiring an additional 30,895 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) Corp., formerly known as Lithium Americas (Argentina) Corp. and associated with the NYSE symbol LAR, is a lithium development and production company focused on projects in Argentina. Its principal asset is the Cauchari-Olaroz lithium brine project in Jujuy Province, a region recognized for its significant lithium resources.

Cauchari-Olaroz produces lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems, consumer electronics and other applications.