Lithium Americas (Argentina) (NYSE:LAR) Sets New 52-Week High After Analyst Upgrade

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price hit a new 52-week high on Monday after National Bankshares raised their price target on the stock from $4.75 to $6.50. National Bankshares currently has an outperform rating on the stock. Lithium Americas (Argentina) traded as high as $5.86 and last traded at $5.69, with a volume of 531506 shares trading hands. The stock had previously closed at $5.42.

A number of other research analysts have also recently commented on LAR. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Scotiabank increased their target price on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Mirabella Financial Services LLP acquired a new stake in Lithium Americas (Argentina) during the 3rd quarter valued at $189,000. Seldon Capital LP bought a new stake in shares of Lithium Americas (Argentina) during the third quarter worth $6,076,000. SIH Partners LLLP acquired a new stake in shares of Lithium Americas (Argentina) in the third quarter valued at $57,000. Mercer Global Advisors Inc. ADV raised its holdings in shares of Lithium Americas (Argentina) by 4.7% in the third quarter. Mercer Global Advisors Inc. ADV now owns 96,068 shares of the company’s stock valued at $321,000 after buying an additional 4,272 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Lithium Americas (Argentina) by 214.3% in the third quarter. Millennium Management LLC now owns 406,728 shares of the company’s stock valued at $1,357,000 after buying an additional 277,300 shares during the last quarter. 49.17% of the stock is owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Trading Up 0.9%

The company’s 50-day moving average is $4.72 and its 200-day moving average is $3.59.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Analysts forecast that Lithium Americas will post -0.05 earnings per share for the current year.

About Lithium Americas (Argentina)

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.