Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $8.1286.
LAR has been the subject of a number of research analyst reports. TD Securities boosted their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Zacks Research raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Scotiabank boosted their price target on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Finally, Wall Street Zen raised Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th.
Check Out Our Latest Stock Report on LAR
Lithium Americas (Argentina) Stock Down 0.2%
Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). Equities research analysts expect that Lithium Americas will post 0.29 earnings per share for the current year.
Hedge Funds Weigh In On Lithium Americas (Argentina)
A number of institutional investors and hedge funds have recently bought and sold shares of LAR. Van ECK Associates Corp raised its stake in shares of Lithium Americas (Argentina) by 119.3% in the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after purchasing an additional 5,219,416 shares during the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Lithium Americas (Argentina) in the third quarter worth approximately $481,000. Quantbot Technologies LP raised its stake in shares of Lithium Americas (Argentina) by 347.3% in the third quarter. Quantbot Technologies LP now owns 196,265 shares of the company’s stock worth $656,000 after purchasing an additional 152,386 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth approximately $553,000. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth approximately $446,000. Institutional investors and hedge funds 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 pilotāscale evaporation ponds have demonstrated favorable lithium concentrations.
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