Lithium Americas (Argentina) Corp. (NYSE:LAR) Short Interest Down 18.9% in January

Lithium Americas (Argentina) Corp. (NYSE:LAR) saw a significant drop in short interest in January. As of January 30th, there was short interest totaling 6,371,015 shares, a drop of 18.9% from the January 15th total of 7,853,267 shares. Based on an average daily trading volume, of 3,964,254 shares, the short-interest ratio is presently 1.6 days. Approximately 4.9% of the shares of the stock are short sold. Approximately 4.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,964,254 shares, the short-interest ratio is presently 1.6 days.

Analyst Ratings Changes

Several analysts have weighed in on LAR shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and upped their price objective for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. National Bank Financial lifted their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $4.25 to $7.75 in a research note on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average target price of $7.44.

Lithium Americas (Argentina) Stock Up 4.7%

Shares of NYSE LAR traded up $0.31 during trading hours on Monday, reaching $6.94. 2,435,694 shares of the stock traded hands. The company’s 50-day simple moving average is $6.61 and its two-hundred day simple moving average is $4.87. The company has a market capitalization of $1.13 billion and a P/E ratio of -13.88. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $8.80.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently made changes to their positions in the business. Stratos Wealth Advisors LLC bought a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at $28,000. Insigneo Advisory Services LLC purchased a new stake in Lithium Americas (Argentina) during the third quarter valued at about $34,000. JPMorgan Chase & Co. bought a new position in shares of Lithium Americas (Argentina) during the second quarter valued at about $37,000. Sage Investment Counsel LLC purchased a new position in shares of Lithium Americas (Argentina) in the third quarter worth about $38,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares during the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.