Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $8.1286.

Several equities analysts recently weighed in on LAR shares. Scotiabank lifted their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. TD Securities lifted their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Zacks Research upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its holdings in Lithium Americas (Argentina) by 538.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after buying an additional 5,900 shares during the last quarter. Insigneo Advisory Services LLC acquired a new stake in Lithium Americas (Argentina) in the 3rd quarter worth about $34,000. BNP Paribas Financial Markets boosted its holdings in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after buying an additional 3,552 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Lithium Americas (Argentina) by 250.0% in the 4th quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock worth $78,000 after buying an additional 10,000 shares during the last quarter. Finally, Modera Wealth Management LLC acquired a new stake in Lithium Americas (Argentina) in the 1st quarter worth about $97,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Trading Up 0.3%

NYSE LAR opened at $10.38 on Monday. The stock has a 50-day simple moving average of $8.81 and a two-hundred day simple moving average of $7.23. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week 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 for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). On average, research analysts anticipate that Lithium Americas will post 0.29 earnings per share for the current year.

Lithium Americas (Argentina) Company Profile

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.