Lithium Argentina (NYSE:LAR) Trading 8% Higher – Here’s What Happened

Lithium Argentina AG (NYSE:LAR) shares rose 8% during trading on Thursday . The stock traded as high as $2.15 and last traded at $2.15. Approximately 635,784 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 969,289 shares. The stock had previously closed at $1.99.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. National Bankshares lowered their price objective on shares of Lithium Argentina from $3.75 to $3.50 and set a “sector perform” rating on the stock in a research note on Wednesday, March 19th. Scotiabank decreased their price target on shares of Lithium Argentina from $4.00 to $3.50 and set a “sector outperform” rating on the stock in a research report on Wednesday, March 19th.

Lithium Argentina Trading Up 8.0 %

The company has a market capitalization of $348.09 million, a PE ratio of 0.28 and a beta of 1.36. The company has a 50 day moving average price of $2.19.

Lithium Argentina (NYSE:LAR) last released its earnings results on Monday, March 17th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. Equities research analysts predict that Lithium Argentina AG will post -0.05 EPS for the current year.

Institutional Trading of Lithium Argentina

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC purchased a new position in Lithium Argentina during the first quarter valued at $592,000. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Lithium Argentina in the first quarter valued at $56,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Lithium Argentina in the 1st quarter worth about $41,000. Finally, Balboa Wealth Partners bought a new position in shares of Lithium Argentina during the first quarter valued at approximately $90,000. Institutional investors own 49.17% of the company’s stock.

About Lithium Argentina

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.