Lithium Americas (Argentina) (NYSE:LAR) Rating Increased to Strong-Buy at Hsbc Global Res

Hsbc Global Res upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. Stifel Nicolaus upped their price objective on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target on the stock in a research note on Tuesday, January 13th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their price target for the company from $4.75 to $9.60 in a report on Monday. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $4.25 to $7.75 in a research report on Monday, January 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and an average target price of $7.44.

Lithium Americas (Argentina) Stock Performance

LAR opened at $8.15 on Monday. Lithium Americas has a 1-year low of $1.71 and a 1-year high of $8.67. The firm has a 50-day moving average price of $5.78 and a two-hundred day moving average price of $4.28.

Lithium Americas (Argentina) (NYSE:LAR) last announced its 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). As a group, equities research analysts predict that Lithium Americas will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada acquired a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth about $572,000. Goldman Sachs Group Inc. acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at approximately $1,064,000. Woodline Partners LP bought a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $3,456,000. Wealth Enhancement Advisory Services LLC grew its holdings in Lithium Americas (Argentina) by 23.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 342,513 shares of the company’s stock valued at $712,000 after purchasing an additional 65,783 shares during the period. Finally, Perigon Wealth Management LLC acquired a new position in Lithium Americas (Argentina) during the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.