Lithium Americas (Argentina) (NYSE:LAR) Trading 9.1% Higher – Should You Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price shot up 9.1% during mid-day trading on Monday . The company traded as high as $6.40 and last traded at $6.2960. 614,904 shares were traded during mid-day trading, a decline of 81% from the average session volume of 3,192,830 shares. The stock had previously closed at $5.77.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LAR shares. Stifel Nicolaus boosted their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $4.25 to $7.75 in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target for the company in a research note on Tuesday, January 13th. TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, February 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Price Performance

The company has a market capitalization of $1.01 billion and a P/E ratio of -12.40. The stock has a 50-day moving average price of $7.29 and a 200-day moving average price of $5.55.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently made changes to their positions in LAR. Cibc World Market Inc. grew its stake in Lithium Americas (Argentina) by 2.3% in the third quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after acquiring an additional 2,940 shares during the period. Brown Advisory Inc. increased its holdings in Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after buying an additional 3,000 shares during the last quarter. Raymond James Financial Inc. increased its position in Lithium Americas (Argentina) by 14.1% in the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after buying an additional 3,214 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted 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 valued at $112,000 after buying an additional 3,575 shares during the last quarter. 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.