Canaccord Genuity Group Issues Positive Forecast for Lithium Americas (Argentina) (TSE:LAR) Stock Price

Lithium Americas (Argentina) (TSE:LAR) had its target price hoisted by Canaccord Genuity Group from C$17.50 to C$17.75 in a research report sent to investors on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on LAR. Scotiabank raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. HSBC upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th. Finally, TD Securities raised their price objective on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Strong Buy” and a consensus target price of C$13.38.

Lithium Americas (Argentina) Stock Performance

Shares of TSE LAR opened at C$9.71 on Tuesday. The firm has a 50 day moving average price of C$9.91 and a two-hundred day moving average price of C$7.72. The stock has a market cap of C$1.58 billion, a P/E ratio of -19.42 and a beta of 1.74. Lithium Americas has a 52-week low of C$2.36 and a 52-week high of C$12.03.

Lithium Americas (Argentina) (TSE:LAR) last issued its quarterly earnings results on Monday, March 23rd. The company reported C$0.01 EPS for the quarter.

Insider Buying and Selling at Lithium Americas (Argentina)

In related news, insider Ignacio Celorrio sold 50,453 shares of Lithium Americas (Argentina) stock in a transaction on Thursday, January 29th. The shares were sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the transaction, the insider owned 324,110 shares of the company’s stock, valued at C$3,276,752.10. This trade represents a 13.47% decrease in their ownership of the stock. Also, insider Daniel Cherniak sold 30,977 shares of Lithium Americas (Argentina) stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the transaction, the insider directly owned 24,754 shares of the company’s stock, valued at C$261,649.78. This represents a 55.58% decrease in their position.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.