Lithium Americas (Argentina) (NYSE:LAR) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a report on Tuesday, January 13th. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Scotiabank upped their target price on shares of Lithium Americas (Argentina) from $7.75 to $8.50 and gave the company a “sector outperform” rating in a report on Monday, April 6th. Finally, TD Securities upped their target price on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lithium Americas (Argentina) presently has a consensus rating of “Moderate Buy” and an average target price of $7.77.

Lithium Americas (Argentina) Trading Down 3.1%

NYSE LAR opened at $11.43 on Monday. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $12.05. The firm has a 50 day moving average of $8.05 and a two-hundred day moving average of $6.73.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). As a group, analysts predict that Lithium Americas will post 0.44 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of large investors have recently made changes to their positions in the stock. ABN Amro Investment Solutions purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $6,335,000. Modera Wealth Management LLC purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $97,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $543,000. Banque Cantonale Vaudoise increased its holdings in shares of Lithium Americas (Argentina) by 12.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 87,481 shares of the company’s stock valued at $584,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of Lithium Americas (Argentina) in the 4th quarter valued at about $107,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.