Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $8.50 at Scotiabank

Lithium Americas (Argentina) (NYSE:LAR) had its target price hoisted by Scotiabank from $7.75 to $8.50 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Other equities research analysts have also issued reports about the stock. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their target price for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a report on Tuesday, January 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. National Bank Financial boosted their target price 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. Finally, TD Securities boosted their target price on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.77.

Lithium Americas (Argentina) Price Performance

LAR opened at $7.43 on Monday. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $8.80. The company’s 50 day moving average price is $7.02 and its two-hundred day moving average price is $5.84.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LAR. Van ECK Associates Corp lifted its stake in shares of 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 valued at $32,045,000 after buying an additional 5,219,416 shares in the last quarter. CenterBook Partners LP lifted its stake in shares of 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 buying an additional 2,122,035 shares in the last quarter. Seldon Capital LP bought a new position in shares of Lithium Americas (Argentina) in the third quarter valued at $6,076,000. Millennium Management LLC lifted its stake in shares of Lithium Americas (Argentina) by 441.1% in the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock valued at $12,281,000 after buying an additional 1,793,994 shares in the last quarter. Finally, Woodline Partners LP bought a new position in shares of Lithium Americas (Argentina) in the first quarter valued at $3,456,000. 49.17% of the stock is owned by institutional investors.

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.