Lithium Americas (Argentina) Corp. (NYSE:LAR) Given Average Rating of “Hold” by Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been given an average rating of “Hold” by the six ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $4.9167.

LAR has been the topic of several recent research reports. Scotiabank upped 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 report on Wednesday, November 12th. National Bankshares boosted their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors have recently bought and sold shares of the stock. Swiss National Bank acquired a new position in Lithium Americas (Argentina) during the first quarter valued at $474,000. Invesco Ltd. acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at about $3,307,000. Nuveen LLC purchased a new stake in Lithium Americas (Argentina) during the 1st quarter worth approximately $176,000. HighTower Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter worth approximately $40,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter worth $108,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Stock Up 1.6%

Shares of LAR opened at $5.65 on Friday. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $5.86. The business’s 50 day simple moving average is $4.77 and its 200-day simple moving average is $3.64.

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 the consensus estimate of ($0.01) by ($0.01). Research analysts predict that Lithium Americas will post -0.05 EPS for the current fiscal year.

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 pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.