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

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

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

Lithium Americas (Argentina) Price Performance

NYSE LAR opened at $11.43 on Monday. The stock’s 50 day moving average is $8.05 and its 200 day moving average is $6.73. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, equities research analysts expect that Lithium Americas will post 0.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several large investors have recently modified their holdings of LAR. Van ECK Associates Corp increased its position in shares of Lithium Americas (Argentina) by 119.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock valued at $32,045,000 after purchasing an additional 5,219,416 shares during the last quarter. CenterBook Partners LP increased its position in shares of Lithium Americas (Argentina) by 102.1% during the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after purchasing an additional 2,122,035 shares during the last quarter. Seldon Capital LP bought a new position in shares of Lithium Americas (Argentina) during the 3rd quarter valued at approximately $6,076,000. Millennium Management LLC increased its position in shares of Lithium Americas (Argentina) by 441.1% during the 4th quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after purchasing an additional 1,793,994 shares during the last quarter. Finally, Woodline Partners LP bought a new position in shares of Lithium Americas (Argentina) during the 1st quarter valued at approximately $3,456,000. 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.