Lithium Americas (Argentina) (TSE:LAR) Reaches New 1-Year High – Here’s What Happened

Lithium Americas (Argentina) Corp. (TSE:LAR)’s stock price reached a new 52-week high on Friday . The stock traded as high as C$5.52 and last traded at C$5.32, with a volume of 799955 shares trading hands. The stock had previously closed at C$4.76.

Wall Street Analyst Weigh In

LAR has been the subject of several recent research reports. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Finally, Scotiabank cut shares of Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Lithium Americas (Argentina) Trading Up 11.8%

The company has a market capitalization of C$863.44 million, a price-to-earnings ratio of -48.36 and a beta of 1.70. The company’s 50 day simple moving average is C$4.35 and its 200-day simple moving average is C$3.41.

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.