Lithium Americas (Argentina) (NYSE:LAR) Upgraded at Hsbc Global Res

Hsbc Global Res upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) to a strong-buy rating in a report released on Monday morning,Zacks.com reports.

Several other equities analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a research note on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. National Bankshares lifted their price objective on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Stifel Nicolaus boosted their price objective on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a research note on Wednesday, January 7th. Finally, Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.44.

Lithium Americas (Argentina) Trading Down 0.6%

Shares of LAR opened at $8.13 on Monday. The stock has a 50 day moving average of $5.86 and a 200 day moving average of $4.31. The company has a market capitalization of $1.32 billion and a price-to-earnings ratio of -16.26. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $8.67.

Lithium Americas (Argentina) (NYSE:LAR) last released its earnings results on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). As a group, equities research analysts predict that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of hedge funds have recently bought and sold shares of LAR. Royal Bank of Canada bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $572,000. Goldman Sachs Group Inc. bought a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $1,064,000. Woodline Partners LP purchased a new position in Lithium Americas (Argentina) in the 1st quarter worth approximately $3,456,000. Wealth Enhancement Advisory Services LLC increased its stake in Lithium Americas (Argentina) by 23.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 342,513 shares of the company’s stock worth $712,000 after purchasing an additional 65,783 shares during the period. Finally, Perigon Wealth Management LLC bought a new stake in Lithium Americas (Argentina) in the second quarter valued at approximately $41,000. Institutional investors 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.