Lithium Americas (Argentina) (NYSE:LAR) Trading Up 8.2% – Still a Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares were up 8.2% on Tuesday . The stock traded as high as $5.18 and last traded at $5.16. Approximately 2,094,883 shares changed hands during mid-day trading, an increase of 15% from the average daily volume of 1,822,596 shares. The stock had previously closed at $4.77.

Wall Street Analysts Forecast Growth

Several equities analysts have 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. National Bankshares raised Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $2.90 to $4.50 in a research note on Tuesday, August 12th. Scotiabank increased their price target on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a report on Wednesday, November 12th. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Finally, National Bank Financial upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $4.25.

Lithium Americas (Argentina) Stock Performance

The company has a market capitalization of $894.27 million and a P/E ratio of -11.02. The stock’s fifty day moving average price is $4.26 and its 200-day moving average price is $3.16.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised 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 valued at $32,045,000 after acquiring an additional 5,219,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Lithium Americas (Argentina) during the first quarter worth about $9,308,000. Hancock Prospecting Pty Ltd bought a new position in Lithium Americas (Argentina) in the 1st quarter valued at about $5,368,000. CenterBook Partners LP increased 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 valued at $14,029,000 after buying an additional 2,122,035 shares during the period. Finally, Seldon Capital LP bought a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter worth approximately $6,076,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

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.