Lithium Americas (Argentina) (TSE:LAR) Hits New 1-Year High – Should You Buy?

Lithium Americas (Argentina) Corp. (TSE:LAR)’s share price hit a new 52-week high on Friday . The stock traded as high as C$5.52 and last traded at C$5.32, with a volume of 799955 shares. The stock had previously closed at C$4.76.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LAR shares. Cormark upgraded Lithium Americas (Argentina) to a “moderate buy” rating in a report on Wednesday, August 20th. National Bank Financial raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 11th. Finally, Scotiabank cut shares of Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Buy”.

Lithium Americas (Argentina) Trading Down 7.1%

The company has a market capitalization of C$801.76 million, a price-to-earnings ratio of -44.91 and a beta of 1.70. The firm’s fifty day simple moving average is C$4.37 and its two-hundred day simple moving average is C$3.42.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.