Lithium Americas (Argentina) (NYSE:LAR) Raised to “Strong-Buy” at TD Securities

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by TD Securities to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a research report on Tuesday, January 13th. National Bankshares raised their price target on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. Stifel Nicolaus upped their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their target price for the company from $4.75 to $9.60 in a research report on Monday, January 19th. Three research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Stock Performance

Shares of LAR opened at $6.86 on Monday. The firm has a 50 day simple moving average of $6.50 and a two-hundred day simple moving average of $4.79. Lithium Americas has a one year low of $1.71 and a one year high of $8.80.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, analysts expect that Lithium Americas will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at $572,000. Goldman Sachs Group Inc. acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at $1,064,000. Woodline Partners LP bought a new position in Lithium Americas (Argentina) during the 1st quarter worth $3,456,000. Stratos Wealth Advisors LLC bought a new position in Lithium Americas (Argentina) during the 2nd quarter worth $28,000. Finally, Boston Partners lifted its holdings in Lithium Americas (Argentina) by 15.3% during the 2nd quarter. Boston Partners now owns 136,505 shares of the company’s stock worth $284,000 after buying an additional 18,096 shares during the period. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.