Lithium Americas (Argentina) (NYSE:LAR) Trading Up 8.7% – Time to Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price was up 8.7% during mid-day trading on Tuesday . The company traded as high as $6.65 and last traded at $6.62. Approximately 719,170 shares traded hands during trading, a decline of 73% from the average daily volume of 2,636,554 shares. The stock had previously closed at $6.09.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LAR. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. National Bankshares lifted their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research report on Friday, December 19th. Finally, Scotiabank boosted their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.92.

Lithium Americas (Argentina) Stock Up 12.0%

The business’s fifty day moving average is $4.97 and its two-hundred day moving average is $3.85. The firm has a market cap of $1.11 billion and a price-to-earnings ratio of -13.64.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Research analysts forecast that Lithium Americas will post -0.05 EPS for the current year.

Institutional Trading of Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter valued at about $28,000. Insigneo Advisory Services LLC bought a new stake in shares of Lithium Americas (Argentina) during the third quarter worth approximately $34,000. JPMorgan Chase & Co. acquired a new position in Lithium Americas (Argentina) in the second quarter valued at approximately $37,000. Sage Investment Counsel LLC acquired a new position in Lithium Americas (Argentina) in the third quarter valued at approximately $38,000. Finally, BNP Paribas Financial Markets boosted its stake in 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 acquiring an additional 3,552 shares during the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.