Lithium Americas (Argentina) (TSE:LAR) Stock Price Up 8.7% – Time to Buy?

Shares of Lithium Americas (Argentina) Corp. (TSE:LAR) traded up 8.7% on Friday . The stock traded as high as C$5.65 and last traded at C$5.63. 128,496 shares were traded during trading, a decline of 24% from the average session volume of 168,124 shares. The stock had previously closed at C$5.18.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LAR. Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Scotiabank downgraded Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, National Bank Financial upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy”.

Lithium Americas (Argentina) Price Performance

The stock has a market cap of C$938.09 million, a P/E ratio of -52.55 and a beta of 1.70. The stock’s fifty day simple moving average is C$4.47 and its 200-day simple moving average is C$3.48.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.