Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) had its price target hoisted by stock analysts at Stifel Nicolaus from $11.00 to $13.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 91.49% from the company’s previous close.
A number of other brokerages have also recently weighed in on LAR. Scotiabank lowered their price target on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research report on Wednesday, August 12th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and a consensus price target of $9.32.
Check Out Our Latest Report on Lithium Americas (Argentina)
Lithium Americas (Argentina) Price Performance
Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter last year, the business posted ($0.03) EPS. Sell-side analysts expect that Lithium Americas will post 0.2 EPS for the current year.
Hedge Funds Weigh In On Lithium Americas (Argentina)
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in Lithium Americas (Argentina) in the second quarter worth $37,000. BNP Paribas Financial Markets lifted its stake in shares of Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in Lithium Americas (Argentina) by 538.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after purchasing an additional 5,900 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter valued at approximately $40,000. Finally, Raymond James Financial Inc. raised 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 during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.
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.
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