Lithium Americas (Argentina) (TSE:LAR) Shares Up 7% – Here’s Why

Lithium Americas (Argentina) Corp. (TSE:LAR) shares shot up 7% during mid-day trading on Tuesday . The stock traded as high as C$8.90 and last traded at C$8.85. Approximately 166,514 shares were traded during mid-day trading, a decline of 38% from the average daily volume of 268,937 shares. The stock had previously closed at C$8.27.

Analysts Set New Price Targets

LAR has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price objective on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a research note on Tuesday, March 24th. TD Securities lifted their price target on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Three investment analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy” and an average price target of C$13.38.

Lithium Americas (Argentina) Stock Performance

The business has a fifty day moving average of C$12.16 and a 200-day moving average of C$11.16. The company has a market capitalization of C$1.45 billion, a P/E ratio of -23.29 and a beta of 2.44.

Lithium Americas (Argentina) (TSE:LAR) last released its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share 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’.