Lithium Americas (Argentina) (NYSE:LAR) Upgraded by Zacks Research to Hold Rating

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Scotiabank cut their price target on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $8.57.

Lithium Americas (Argentina) Trading Up 1.4%

Lithium Americas (Argentina) stock opened at $6.84 on Thursday. Lithium Americas has a 12-month low of $2.97 and a 12-month high of $12.05. The business’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $7.91.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same quarter in the prior year, the company earned ($0.03) EPS. As a group, equities research analysts forecast that Lithium Americas will post 0.2 EPS for the current year.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at about $37,000. BNP Paribas Financial Markets lifted its stake in shares of Lithium Americas (Argentina) by 45.3% in the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after acquiring an additional 3,552 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in Lithium Americas (Argentina) by 538.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after acquiring an additional 5,900 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter valued at approximately $40,000. Finally, Raymond James Financial Inc. raised its holdings in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after purchasing an additional 3,214 shares during the last quarter. 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.