Lithium Americas (Argentina) (NYSE:LAR) Upgraded to Sector Outperform at Scotiabank

Scotiabank upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a sector perform rating to a sector outperform rating in a report published on Monday, MarketBeat.com reports. Scotiabank currently has $7.75 target price on the stock, up from their prior target price of $4.25.

A number of other research analysts have also weighed in on LAR. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Stifel Nicolaus increased their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research report on Wednesday, January 7th. 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 boosted their price target on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.69.

Lithium Americas (Argentina) Trading Up 7.2%

NYSE:LAR opened at $7.48 on Monday. The stock has a 50 day moving average of $5.27 and a two-hundred day moving average of $4.03. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $7.93.

Lithium Americas (Argentina) (NYSE:LAR) last released its 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). On average, sell-side analysts expect that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Lithium Americas (Argentina) by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 345,598 shares of the company’s stock valued at $1,928,000 after purchasing an additional 5,555 shares during the period. JPMorgan Chase & Co. boosted its holdings in Lithium Americas (Argentina) by 58.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,728 shares of the company’s stock valued at $93,000 after purchasing an additional 10,176 shares during the last quarter. Mirabella Financial Services LLP purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at approximately $189,000. Seldon Capital LP purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at approximately $6,076,000. Finally, SIH Partners LLLP acquired a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.