Stifel Nicolaus Issues Positive Forecast for Lithium Americas (Argentina) (NYSE:LAR) Stock Price

Lithium Americas (Argentina) (NYSE:LAR) had its target price lifted by Stifel Nicolaus from $6.00 to $8.50 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently issued reports on the stock. Scotiabank increased 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. 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. Finally, National Bankshares lifted 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. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $5.81.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAR opened at $7.06 on Wednesday. The firm has a fifty day moving average of $5.09 and a 200-day moving average of $3.91. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $7.22.

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

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC purchased a new position in Lithium Americas (Argentina) in the 2nd quarter valued at about $28,000. Insigneo Advisory Services LLC purchased a new position in Lithium Americas (Argentina) in the third quarter valued at about $34,000. JPMorgan Chase & Co. acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter valued at approximately $37,000. Sage Investment Counsel LLC purchased a new stake in Lithium Americas (Argentina) during the 3rd quarter worth approximately $38,000. Finally, BNP Paribas Financial Markets increased its holdings in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after purchasing an additional 3,552 shares during the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.