Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives $8.13 Average Price Target from Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has received a consensus recommendation of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.1286.

LAR has been the subject of several analyst reports. TD Securities increased their target price 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. Zacks Research cut Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Scotiabank raised their target price on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAR. Cetera Investment Advisers raised its position in shares of Lithium Americas (Argentina) by 7.0% in the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock worth $119,000 after buying an additional 1,162 shares in the last quarter. Brown Advisory Inc. grew its position in Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after buying an additional 3,000 shares in the last quarter. Raymond James Financial Inc. grew its position 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 worth $54,000 after buying an additional 3,214 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after acquiring an additional 3,552 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after acquiring an additional 3,575 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Price Performance

NYSE:LAR opened at $6.38 on Tuesday. The firm has a 50-day moving average of $8.90 and a 200-day moving average of $8.04. The company has a market cap of $1.05 billion and a PE ratio of -16.80. Lithium Americas has a one year low of $2.52 and a one year high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, equities research analysts expect that Lithium Americas will post 0.28 earnings per share for the current fiscal year.

Lithium Americas (Argentina) Company Profile

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.