Lithium Americas (Argentina) (NYSE:LAR) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a hold rating to a buy rating in a report published on Tuesday, MarketBeat.com reports. Deutsche Bank Aktiengesellschaft currently has $8.30 target price on the stock.

A number of other equities research analysts have also issued reports on the stock. National Bankshares upped 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Stifel Nicolaus increased their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $4.25 to $7.75 in a report on Monday. Finally, Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $7.01.

Lithium Americas (Argentina) Trading Down 1.2%

NYSE:LAR opened at $8.26 on Tuesday. The stock has a 50 day moving average of $5.54 and a two-hundred day moving average of $4.13. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $8.67.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). On average, sell-side analysts expect that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LAR. Van ECK Associates Corp increased its stake in Lithium Americas (Argentina) by 119.3% during the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after acquiring an additional 5,219,416 shares during the last quarter. CenterBook Partners LP increased its position in shares of Lithium Americas (Argentina) by 102.1% during the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after purchasing an additional 2,122,035 shares during the last quarter. Seldon Capital LP acquired a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter worth about $6,076,000. Woodline Partners LP purchased a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $3,456,000. Finally, Invesco Ltd. lifted its position in Lithium Americas (Argentina) by 42.3% in the second quarter. Invesco Ltd. now owns 2,198,736 shares of the company’s stock valued at $4,573,000 after buying an additional 653,351 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other 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.