Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $9.00 at TD Securities

Lithium Americas (Argentina) (NYSE:LAR) had its target price increased by TD Securities from $7.00 to $9.00 in a report released on Tuesday,Benzinga reports. TD Securities currently has a buy rating on the stock.

Other analysts also recently issued research reports about the stock. National Bank Financial raised 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. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $4.25 to $7.75 in a research note on Monday, January 12th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Stifel Nicolaus boosted their target price 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.66.

Lithium Americas (Argentina) Stock Performance

LAR stock opened at $7.07 on Tuesday. The stock’s 50 day moving average is $7.24 and its two-hundred day moving average is $5.60. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $8.80.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Large investors have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Lithium Americas (Argentina) by 119.3% during the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock valued at $32,045,000 after purchasing an additional 5,219,416 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of Lithium Americas (Argentina) by 102.1% during the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after purchasing an additional 2,122,035 shares during the period. Seldon Capital LP bought a new position in shares of Lithium Americas (Argentina) in the 3rd quarter worth about $6,076,000. Millennium Management LLC lifted its position in shares of Lithium Americas (Argentina) by 441.1% in the 4th quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after buying an additional 1,793,994 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $3,456,000. 49.17% of the stock is currently owned by institutional investors.

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.