Analysts Set Lithium Americas (Argentina) Corp. (NYSE:LAR) Target Price at $7.44

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have earned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $7.4417.

Several research analysts recently commented on the stock. TD Securities raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, February 9th. National Bank Financial raised their price target 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. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $4.25 to $7.75 in a report on Monday, January 12th. Finally, Stifel Nicolaus raised their target price on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Advisors LLC bought a new stake in Lithium Americas (Argentina) in the second quarter valued at $28,000. Insigneo Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter worth about $34,000. JPMorgan Chase & Co. bought a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter valued at about $37,000. Sage Investment Counsel LLC bought a new stake in shares of Lithium Americas (Argentina) during the 3rd quarter valued at about $38,000. Finally, BNP Paribas Financial Markets increased its position in shares of Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares during the period. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Trading Up 4.7%

Shares of LAR stock opened at $6.94 on Friday. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $8.80. The stock has a 50 day moving average price of $6.64 and a two-hundred day moving average price of $4.90.

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.