Brokerages Set Lithium Americas (Argentina) Corp. (NYSE:LAR) PT at $9.32

Lithium Americas (Argentina) Corp. (NYSE:LARGet Free Report) has been assigned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $9.3167.

Several research firms have recently issued reports on LAR. Scotiabank reduced 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Stifel Nicolaus upped their price objective on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th.

Check Out Our Latest Stock Report on LAR

Institutional Trading of Lithium Americas (Argentina)

Hedge funds have recently modified their holdings of the company. Seldon Capital LP acquired a new position in Lithium Americas (Argentina) during the third quarter valued at approximately $6,076,000. Millennium Management LLC increased its stake in Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after purchasing an additional 1,793,994 shares in the last quarter. Woodline Partners LP acquired a new stake in Lithium Americas (Argentina) in the first quarter worth $3,456,000. Balyasny Asset Management L.P. acquired a new stake in Lithium Americas (Argentina) in the fourth quarter worth $5,423,000. Finally, ABN Amro Investment Solutions bought a new position in shares of Lithium Americas (Argentina) during the first quarter worth $6,335,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAR opened at $6.71 on Wednesday. Lithium Americas has a fifty-two week low of $2.97 and a fifty-two week high of $12.05. The firm has a market capitalization of $1.10 billion and a P/E ratio of -19.72. The company’s 50 day simple moving average is $6.71 and its 200 day simple moving average is $7.87.

Lithium Americas (Argentina) (NYSE:LARGet Free Report) last released its earnings results 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 period in the previous year, the business earned ($0.03) EPS. Sell-side analysts expect that Lithium Americas will post 0.17 EPS for the current fiscal year.

Lithium Americas (Argentina) Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Lithium Americas (Argentina) (NYSE:LAR)

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