Zacks Research Upgrades Lithium Americas (Argentina) (NYSE:LAR) to “Hold”

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Scotiabank dropped their target price on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lithium Americas (Argentina) presently has a consensus rating of “Moderate Buy” and an average target price of $8.57.

Lithium Americas (Argentina) Price Performance

LAR stock opened at $6.84 on Thursday. The stock has a 50-day moving average price of $7.41 and a 200-day moving average price of $7.91. Lithium Americas has a 1-year low of $2.97 and a 1-year high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same quarter in the prior year, the company posted ($0.03) earnings per share. As a group, equities research analysts forecast that Lithium Americas will post 0.2 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada purchased a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $572,000. Goldman Sachs Group Inc. purchased a new position in Lithium Americas (Argentina) in the first quarter worth $1,064,000. Woodline Partners LP purchased a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $3,456,000. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth about $37,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Lithium Americas (Argentina) by 7.1% during the second 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 period. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.