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

Lithium Americas (Argentina) Corp. (TSE:LAR) has been given an average recommendation of “Strong Buy” by the five ratings firms that are presently 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 1-year price objective among brokers that have updated their coverage on the stock in the last year is C$13.38.

LAR has been the subject of several analyst reports. Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Canaccord Genuity Group boosted their target price on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a “buy” rating in a report on Tuesday, March 24th. HSBC upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Finally, TD Securities boosted their target price on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th.

Insider Activity at Lithium Americas (Argentina)

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

Lithium Americas (Argentina) Price Performance

TSE:LAR opened at C$12.43 on Friday. Lithium Americas has a fifty-two week low of C$2.36 and a fifty-two week high of C$13.09. The stock’s 50-day moving average is C$9.88 and its two-hundred day moving average is C$8.50. The stock has a market cap of C$2.02 billion, a PE ratio of -26.45 and a beta of 1.75.

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

About Lithium Americas (Argentina)

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’.