Lithium Americas (Argentina) (NYSE:LAR) Trading 8.7% Higher – Here’s What Happened

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price traded up 8.7% during trading on Monday . The stock traded as high as $7.92 and last traded at $8.0130. 934,524 shares traded hands during trading, a decline of 73% from the average session volume of 3,412,003 shares. The stock had previously closed at $7.37.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Securities boosted their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Stifel Nicolaus upped their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective for the company in a report on Tuesday, January 13th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and upped their price objective for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Finally, National Bank Financial upped their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $7.77.

Lithium Americas (Argentina) Stock Down 1.5%

The stock’s fifty day moving average is $7.03 and its 200-day moving average is $6.01.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cibc World Market Inc. boosted its holdings in Lithium Americas (Argentina) by 2.3% during the third quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after acquiring an additional 2,940 shares during the period. Brown Advisory Inc. boosted its holdings in Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after acquiring an additional 3,000 shares during the period. Raymond James Financial Inc. boosted its holdings in Lithium Americas (Argentina) by 14.1% during the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after acquiring an additional 3,214 shares during the period. BNP Paribas Financial Markets boosted its holdings in Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.