Lithium Americas (Argentina) Target of Unusually High Options Trading (NYSE:LAR)

Lithium Americas (Argentina) Corp. (NYSE:LAR) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 6,407 call options on the company. This is an increase of 250% compared to the typical daily volume of 1,832 call options.

Lithium Americas (Argentina) Stock Up 14.2%

Shares of NYSE:LAR traded up $0.68 during trading on Wednesday, reaching $5.47. The stock had a trading volume of 4,605,108 shares, compared to its average volume of 1,774,628. The stock has a market cap of $887.78 million and a P/E ratio of -10.94. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $5.54. The business has a fifty day moving average price of $4.02 and a 200-day moving average price of $3.03.

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). As a group, equities analysts forecast that Lithium Americas will post -0.05 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a report on Wednesday, August 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. National Bank Financial raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 11th. National Bankshares raised shares of Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $2.90 to $4.50 in a research note on Tuesday, August 12th. Finally, Scotiabank increased their price objective on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research note on Wednesday, November 12th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.25.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $1,064,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth $108,000. Old West Investment Management LLC bought a new position in Lithium Americas (Argentina) during the first quarter valued at about $238,000. Invesco Ltd. acquired a new position in Lithium Americas (Argentina) during the first quarter worth about $3,307,000. Finally, National Bank of Canada FI acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $244,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.