Lithium Americas (Argentina) (NYSE:LAR) Trading 12.7% Higher – What’s Next?

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) were up 12.7% on Friday . The stock traded as high as $5.61 and last traded at $5.58. Approximately 1,585,089 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 1,866,438 shares. The stock had previously closed at $4.95.

Wall Street Analysts Forecast Growth

LAR has been the subject of several recent research reports. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Scotiabank boosted their price objective on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.25.

Lithium Americas (Argentina) Trading Up 10.1%

The stock has a market cap of $884.54 million and a PE ratio of -10.90. The business’s 50-day moving average price is $4.70 and its 200-day moving average price is $3.52.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). As a group, analysts predict that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC acquired a new stake in Lithium Americas (Argentina) in the third quarter worth about $34,000. BNP Paribas Financial Markets raised its position 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 purchasing an additional 3,552 shares during the last quarter. Sage Investment Counsel LLC acquired a new stake in Lithium Americas (Argentina) in the 3rd quarter worth approximately $38,000. Stratos Wealth Advisors LLC purchased a new stake in Lithium Americas (Argentina) during the 2nd quarter worth approximately $28,000. Finally, SIH Partners LLLP acquired a new position in Lithium Americas (Argentina) during the 3rd quarter valued at approximately $57,000. 49.17% of the stock is owned by institutional investors and hedge funds.

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.