Brokerages Set Lithium Americas (Argentina) Corp. (TSE:LAR) Target Price at C$13.38

Lithium Americas (Argentina) Corp. (TSE:LAR) has earned an average rating of “Strong Buy” from the five ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a buy recommendation and three have given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is C$13.38.

A number of brokerages recently commented on LAR. TD Securities boosted their price objective on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Tuesday. Canaccord Genuity Group lifted their price target on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a report on Tuesday. Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Finally, HSBC raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th.

Lithium Americas (Argentina) Stock Down 4.9%

Shares of TSE LAR opened at C$9.51 on Tuesday. The stock’s fifty day simple moving average is C$9.84 and its 200 day simple moving average is C$7.74. The stock has a market capitalization of C$1.54 billion, a price-to-earnings ratio of -19.02 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 posted its quarterly earnings data on Monday, March 23rd. The company reported C$0.01 earnings per share for the quarter.

Insider Buying and Selling at Lithium Americas (Argentina)

In other news, insider Ignacio Celorrio sold 50,453 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total value of C$510,079.83. Following the sale, the insider directly owned 324,110 shares in the company, valued at approximately C$3,276,752.10. This represents a 13.47% decrease in their position. Also, insider Daniel Cherniak sold 30,977 shares of the business’s stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the completion of the sale, the insider owned 24,754 shares in the company, 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’.