Stifel Nicolaus Forecasts Strong Price Appreciation for Lithium Americas (Argentina) (NYSE:LAR) Stock

Lithium Americas (Argentina) (NYSE:LAR) had its price target raised by equities research analysts at Stifel Nicolaus from $11.00 to $13.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 91.49% from the stock’s previous close.

A number of other brokerages have also issued reports on LAR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Scotiabank dropped their price target on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research note on Wednesday, August 12th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.32.

Lithium Americas (Argentina) Trading Up 1.3%

Lithium Americas (Argentina) stock traded up $0.09 during trading hours on Tuesday, hitting $6.79. 892,753 shares of the stock traded hands, compared to its average volume of 2,820,654. Lithium Americas has a one year low of $2.97 and a one year high of $12.05. The firm’s 50-day moving average price is $7.11 and its two-hundred day moving average price is $7.87. The company has a market cap of $1.11 billion and a PE ratio of -19.98.

Lithium Americas (Argentina) (NYSE:LAR) last issued its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period in the previous year, the company posted ($0.03) EPS. On average, sell-side analysts expect that Lithium Americas will post 0.2 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LAR. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at approximately $37,000. BNP Paribas Financial Markets raised its position in shares of Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Lithium Americas (Argentina) by 538.8% during the fourth 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. Diversify Advisory Services LLC purchased a new stake in Lithium Americas (Argentina) in the second quarter valued at $40,000. Finally, Raymond James Financial Inc. increased its holdings in Lithium Americas (Argentina) by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after purchasing an additional 3,214 shares during the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.