Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.4417.

A number of research firms have issued reports on LAR. Stifel Nicolaus upped their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. National Bank Financial raised their target price 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. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and raised their price objective for the stock from $4.25 to $7.75 in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a research note on Tuesday, January 13th.

Lithium Americas (Argentina) Stock Up 4.7%

LAR opened at $6.94 on Friday. The business’s fifty day simple moving average is $6.61 and its 200 day simple moving average is $4.84. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $8.80.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently made changes to their positions in LAR. First Trust Advisors LP purchased a new stake in Lithium Americas (Argentina) during the 4th quarter worth $257,000. Van ECK Associates Corp boosted its position in shares of Lithium Americas (Argentina) by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock worth $57,202,000 after buying an additional 657,087 shares during the period. Jane Street Group LLC boosted its position in shares of Lithium Americas (Argentina) by 12.3% in the fourth quarter. Jane Street Group LLC now owns 440,959 shares of the company’s stock worth $2,461,000 after buying an additional 48,145 shares during the period. HRT Financial LP acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $1,359,000. Finally, M&G PLC raised its holdings in shares of Lithium Americas (Argentina) by 12.2% during the 4th quarter. M&G PLC now owns 1,401,219 shares of the company’s stock valued at $8,407,000 after buying an additional 151,958 shares during the period. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.