Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has earned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $8.5667.

Several research firms recently weighed in on LAR. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Finally, Scotiabank lowered their price objective on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research report on Wednesday.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAR. Royal Bank of Canada bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $572,000. Goldman Sachs Group Inc. purchased a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $1,064,000. Woodline Partners LP bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $3,456,000. JPMorgan Chase & Co. bought a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after purchasing an additional 3,575 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Stock Up 2.4%

Lithium Americas (Argentina) stock opened at $6.81 on Friday. Lithium Americas has a fifty-two week low of $2.97 and a fifty-two week high of $12.05. The stock’s 50 day simple moving average is $7.51 and its two-hundred day simple moving average is $7.93.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts forecast that Lithium Americas will post 0.27 earnings per share for the current 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.