Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives $8.13 Consensus Target Price from Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have been assigned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.1286.

Several brokerages recently issued reports on LAR. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. TD Securities increased their target price on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Finally, Scotiabank lifted their price objective on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently made changes to their positions in LAR. Cetera Investment Advisers increased its holdings in shares of Lithium Americas (Argentina) by 7.0% during the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after purchasing an additional 1,162 shares during the period. Brown Advisory Inc. grew its position in Lithium Americas (Argentina) by 3.0% in the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after buying an additional 3,000 shares in the last quarter. Raymond James Financial Inc. increased its stake in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after buying an additional 3,214 shares during the period. BNP Paribas Financial Markets raised its position in shares of 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 buying an additional 3,552 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Lithium Americas (Argentina) by 7.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after buying an additional 3,575 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Stock Down 7.6%

Shares of NYSE:LAR opened at $5.88 on Tuesday. Lithium Americas has a fifty-two week low of $2.52 and a fifty-two week high of $12.05. The firm has a 50-day simple moving average of $8.78 and a 200 day simple moving average of $8.06.

Lithium Americas (Argentina) (NYSE:LAR) last issued its earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, analysts expect that Lithium Americas will post 0.28 EPS for the current fiscal year.

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.