Lithium Americas (Argentina) Corp. (TSE:LAR) Given Average Recommendation of “Strong Buy” by Brokerages

Lithium Americas (Argentina) Corp. (TSE:LAR) has been assigned an average recommendation of “Strong Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is C$13.38.

LAR has been the subject of several research reports. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Canaccord Genuity Group boosted their price target on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, TD Securities boosted their price target on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th.

Lithium Americas (Argentina) Stock Performance

Lithium Americas (Argentina) stock opened at C$12.03 on Friday. Lithium Americas has a fifty-two week low of C$2.36 and a fifty-two week high of C$13.09. The firm has a 50 day moving average price of C$9.82 and a 200 day moving average price of C$8.40. The company has a market capitalization of C$1.95 billion, a PE ratio of -25.60 and a beta of 1.75.

Lithium Americas (Argentina) (TSE:LAR) last posted its earnings results on Monday, March 23rd. The company reported C$0.01 earnings per share for the quarter.

Insider Buying and Selling at Lithium Americas (Argentina)

In other news, insider Ignacio Celorrio sold 50,453 shares of Lithium Americas (Argentina) stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the sale, the insider directly owned 324,110 shares of the company’s stock, valued at approximately C$3,276,752.10. The trade was a 13.47% decrease in their position. Also, insider Daniel Cherniak sold 30,977 shares of Lithium Americas (Argentina) stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the sale, the insider directly owned 24,754 shares of the company’s stock, valued at approximately C$261,649.78. This trade represents a 55.58% decrease in their ownership of the stock.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.