Lithium Americas (Argentina) (NYSE:LAR) Shares Up 4% – Should You Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price shot up 4% during trading on Wednesday . The company traded as high as $5.72 and last traded at $5.71. 605,841 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,912,358 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. National Bankshares raised their price objective on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Scotiabank boosted their price target on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research report on Wednesday, November 12th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $4.92.

Lithium Americas (Argentina) Stock Up 2.4%

The stock’s fifty day simple moving average is $4.85 and its 200-day simple moving average is $3.74. The company has a market capitalization of $912.13 million and a PE ratio of -11.24.

Lithium Americas (Argentina) (NYSE:LAR) last posted 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). Analysts expect that Lithium Americas will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LAR. Cibc World Market Inc. grew its holdings in Lithium Americas (Argentina) by 2.3% during the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after buying an additional 2,940 shares during the last quarter. Brown Advisory Inc. boosted its stake in shares of Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after acquiring an additional 3,000 shares during the last quarter. Raymond James Financial Inc. increased its position in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after purchasing an additional 3,214 shares in the last quarter. BNP Paribas Financial Markets raised 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 valued at $38,000 after purchasing an additional 3,552 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $112,000 after purchasing an additional 3,575 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.