Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Up – Time to Buy?

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) gapped up prior to trading on Monday . The stock had previously closed at $4.47, but opened at $4.70. Lithium Americas (Argentina) shares last traded at $4.95, with a volume of 4,111,052 shares.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LAR. Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a report on Wednesday, August 20th. National Bankshares raised Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. BMO Capital Markets lifted their price target on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.25.

Lithium Americas (Argentina) Stock Up 8.7%

The business’s fifty day moving average is $3.95 and its 200-day moving average is $3.00. The company has a market cap of $788.78 million and a PE ratio of -9.72.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Analysts forecast that Lithium Americas will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in Lithium Americas (Argentina) by 119.3% in the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after acquiring an additional 5,219,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Lithium Americas (Argentina) by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock valued at $9,975,000 after buying an additional 408,065 shares in the last quarter. CenterBook Partners LP boosted its holdings in Lithium Americas (Argentina) by 102.1% in the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after buying an additional 2,122,035 shares during the period. Hancock Prospecting Pty Ltd purchased a new stake in Lithium Americas (Argentina) in the 1st quarter worth $5,368,000. Finally, Invesco Ltd. boosted its stake in shares of Lithium Americas (Argentina) by 6.1% in the third quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock worth $7,790,000 after acquiring an additional 133,572 shares during the period. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.