Lithium Americas (Argentina) (NYSE:LAR) Upgraded by Wall Street Zen to Hold Rating

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Several other research firms have also recently weighed in on LAR. Deutsche Bank Aktiengesellschaft raised 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. 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 report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and upped their price objective for the company from $4.75 to $9.60 in a research note on Monday, January 19th. Finally, Stifel Nicolaus increased 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and a consensus target price of $7.66.

Lithium Americas (Argentina) Trading Down 9.0%

Shares of LAR stock opened at $6.26 on Friday. Lithium Americas has a 1-year low of $1.71 and a 1-year high of $8.80. The stock’s fifty day simple moving average is $7.15 and its 200-day simple moving average is $5.64.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently made changes to their positions in LAR. Van ECK Associates Corp increased its holdings in Lithium Americas (Argentina) by 119.3% in the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after buying an additional 5,219,416 shares during the last quarter. CenterBook Partners LP lifted its stake in Lithium Americas (Argentina) by 102.1% in the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after acquiring an additional 2,122,035 shares during the last quarter. Seldon Capital LP acquired a new stake in Lithium Americas (Argentina) in the third quarter valued at approximately $6,076,000. Millennium Management LLC grew its position in Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after acquiring an additional 1,793,994 shares in the last quarter. Finally, Woodline Partners LP bought a new stake in Lithium Americas (Argentina) in the first quarter worth approximately $3,456,000. 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.