Lithium Americas (Argentina) (NYSE:LAR) Sees Unusually-High Trading Volume – Here’s Why

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares saw unusually-strong trading volume on Wednesday . Approximately 2,772,884 shares changed hands during trading, an increase of 57% from the previous session’s volume of 1,763,788 shares.The stock last traded at $5.46 and had previously closed at $4.79.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LAR. Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. National Bankshares raised Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $2.90 to $4.50 in a research note on Tuesday, August 12th. National Bank Financial raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 11th. Scotiabank increased their target price on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a report on Wednesday, November 12th. Finally, BMO Capital Markets lifted their price objective on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a “market perform” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lithium Americas (Argentina) has an average rating of “Hold” and an average price target of $4.25.

Lithium Americas (Argentina) Trading Up 13.4%

The company has a market capitalization of $881.29 million and a P/E ratio of -10.86. The stock’s fifty day moving average is $4.02 and its 200 day moving average is $3.03.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, analysts expect that Lithium Americas will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Hedge funds have recently bought and sold shares of the business. Cibc World Market Inc. boosted its stake in shares of Lithium Americas (Argentina) by 2.3% in the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock worth $428,000 after buying an additional 2,940 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Lithium Americas (Argentina) by 3.0% during the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after purchasing an additional 3,000 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after buying an additional 3,214 shares in the last quarter. BNP Paribas Financial Markets increased its position in Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after purchasing an additional 3,552 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Lithium Americas (Argentina) by 7.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after buying an additional 3,575 shares in the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.