Lithium Americas (Argentina) Target of Unusually Large Options Trading (NYSE:LAR)

Lithium Americas (Argentina) Corp. (NYSE:LAR) saw some unusual options trading on Wednesday. Stock investors acquired 6,407 call options on the company. This represents an increase of approximately 250% compared to the typical daily volume of 1,832 call options.

Analysts Set New Price Targets

A number of analysts have issued reports on LAR shares. Scotiabank lifted their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research note on Wednesday, November 12th. BMO Capital Markets increased their target price on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. National Bankshares raised Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $2.90 to $4.50 in a research report on Tuesday, August 12th. Finally, National Bank Financial upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Hold” and a consensus price target of $4.25.

Lithium Americas (Argentina) Trading Up 14.2%

Shares of NYSE:LAR traded up $0.68 during trading on Wednesday, hitting $5.47. 4,605,108 shares of the company’s stock were exchanged, compared to its average volume of 1,774,628. The firm has a 50-day moving average price of $4.02 and a two-hundred day moving average price of $3.03. The firm has a market cap of $887.78 million and a P/E ratio of -10.94. Lithium Americas has a 1-year low of $1.71 and a 1-year high of $5.54.

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

Institutional Inflows and Outflows

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

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.