Lithium Americas (Argentina) (NYSE:LAR) Shares Up 4% – Still a Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares were up 4% during mid-day trading on Wednesday . The stock traded as high as $5.72 and last traded at $5.71. Approximately 605,841 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,912,358 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

Several research analysts have commented on LAR shares. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. National Bankshares increased their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a report on Friday, December 19th. Scotiabank lifted their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.92.

Lithium Americas (Argentina) Stock Performance

The business has a 50 day moving average price of $4.91 and a two-hundred day moving average price of $3.77.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). As a group, sell-side analysts forecast that Lithium Americas will post -0.05 EPS for the current year.

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently modified their holdings of the business. Nuveen LLC purchased a new position in Lithium Americas (Argentina) during the 1st quarter valued at about $176,000. HighTower Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $40,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $108,000. Nomura Holdings Inc. bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $51,000. Finally, Royal Bank of Canada purchased a new stake in Lithium Americas (Argentina) in the first quarter worth $572,000. 49.17% of the stock is owned by institutional investors.

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.