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

Lithium Americas (Argentina) (NYSE:LAR) had its price objective lifted by Stifel Nicolaus from $6.00 to $8.50 in a research note released on Wednesday morning,BayStreet.CA reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other research analysts have also commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. National Bankshares boosted their price target on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Finally, Scotiabank upped their price objective on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.81.

Lithium Americas (Argentina) Trading Down 0.9%

Lithium Americas (Argentina) stock opened at $6.98 on Wednesday. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $7.22. The firm has a 50 day moving average price of $5.20 and a 200 day moving average price of $3.96.

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

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently added to or reduced their stakes in LAR. Goldman Sachs Group Inc. acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $1,064,000. Boston Partners lifted its position in Lithium Americas (Argentina) by 15.3% in the second quarter. Boston Partners now owns 136,505 shares of the company’s stock valued at $284,000 after acquiring an additional 18,096 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Lithium Americas (Argentina) by 23.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 342,513 shares of the company’s stock valued at $712,000 after acquiring an additional 65,783 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lithium Americas (Argentina) in the first quarter valued at $9,308,000. Finally, Stratos Wealth Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the second quarter worth about $28,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.