Scotiabank Issues Positive Forecast for Lithium Americas (Argentina) (NYSE:LAR) Stock Price

Lithium Americas (Argentina) (NYSE:LAR) had its target price upped by Scotiabank from $8.50 to $11.00 in a research note released on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday, March 23rd. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their price objective for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. TD Securities raised their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Zacks Research upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas (Argentina) presently has a consensus rating of “Moderate Buy” and an average target price of $8.13.

Lithium Americas (Argentina) Price Performance

NYSE:LAR opened at $9.94 on Friday. The company’s 50-day moving average price is $8.23 and its 200-day moving average price is $6.84. Lithium Americas has a twelve month low of $1.71 and a twelve month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, research analysts expect that Lithium Americas will post 0.28 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently made changes to their positions in the stock. Weiss Asset Management LP acquired a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at about $756,000. Renaissance Technologies LLC acquired a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at about $5,328,000. Walleye Capital LLC acquired a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at about $695,000. Cetera Investment Advisers increased its position in shares of Lithium Americas (Argentina) by 7.0% during the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after acquiring an additional 1,162 shares during the last quarter. Finally, ABN Amro Investment Solutions acquired a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at about $6,335,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.