Lithium Americas (Argentina) (TSE:LAR) Trading Up 7.6% on Analyst Upgrade

Lithium Americas (Argentina) Corp. (TSE:LAR)’s stock price shot up 7.6% during trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from C$17.50 to C$17.75. Canaccord Genuity Group currently has a buy rating on the stock. Lithium Americas (Argentina) traded as high as C$9.28 and last traded at C$9.24. 139,853 shares traded hands during trading, a decline of 55% from the average session volume of 307,411 shares. The stock had previously closed at C$8.59.

LAR has been the subject of a number of other reports. Scotiabank raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. TD Securities boosted their target price on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, HSBC raised Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th. Three analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Strong Buy” and an average price target of C$13.38.

Insider Buying and Selling at Lithium Americas (Argentina)

In other Lithium Americas (Argentina) news, insider Daniel Cherniak sold 30,977 shares of the business’s stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the sale, the insider directly owned 24,754 shares of the company’s stock, valued at C$261,649.78. The trade was a 55.58% decrease in their position. Also, insider Ignacio Celorrio sold 50,453 shares of the firm’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the sale, the insider owned 324,110 shares of the company’s stock, valued at approximately C$3,276,752.10. This represents a 13.47% decrease in their position.

Lithium Americas (Argentina) Stock Down 1.4%

The company has a market cap of C$1.60 billion, a P/E ratio of -19.72 and a beta of 1.74. The stock has a 50 day moving average price of C$9.88 and a two-hundred day moving average price of C$7.73.

Lithium Americas (Argentina) (TSE:LAR) last released its quarterly earnings results on Monday, March 23rd. The company reported C$0.01 earnings per share (EPS) for the quarter.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.