Hsbc Global Res Upgrades Lithium Americas (Argentina) (NYSE:LAR) to “Strong-Buy”

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

Several other equities research analysts have also recently commented on the company. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a research report on Tuesday, January 13th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $4.25 to $7.75 in a research report on Monday, January 12th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their target price for the stock from $4.75 to $9.60 in a research report on Monday. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Finally, Stifel Nicolaus lifted their price objective on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Price Performance

Shares of LAR stock opened at $8.15 on Monday. Lithium Americas has a one year low of $1.71 and a one year high of $8.67. The company’s 50-day moving average is $5.78 and its 200 day moving average is $4.28.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Analysts predict that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC purchased a new position in shares of Lithium Americas (Argentina) during the 4th quarter valued at about $553,000. Wealth Enhancement Advisory Services LLC raised its stake in Lithium Americas (Argentina) by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 345,598 shares of the company’s stock worth $1,928,000 after acquiring an additional 5,555 shares during the period. JPMorgan Chase & Co. lifted its holdings in Lithium Americas (Argentina) by 58.0% during the third quarter. JPMorgan Chase & Co. now owns 27,728 shares of the company’s stock valued at $93,000 after purchasing an additional 10,176 shares in the last quarter. Mirabella Financial Services LLP purchased a new position in Lithium Americas (Argentina) during the third quarter valued at approximately $189,000. Finally, Seldon Capital LP bought a new position in shares of Lithium Americas (Argentina) in the third quarter worth approximately $6,076,000. Institutional investors 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.