Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $13.00

Lithium Americas (Argentina) (NYSE:LAR) had its price target increased by Stifel Nicolaus from $11.00 to $13.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on LAR. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Finally, Scotiabank cut their price objective on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lithium Americas (Argentina) presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.32.

Lithium Americas (Argentina) Trading Up 3.1%

LAR opened at $6.92 on Tuesday. The stock has a fifty day simple moving average of $6.95 and a two-hundred day simple moving average of $7.87. Lithium Americas has a 12-month low of $2.97 and a 12-month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter in the previous year, the company posted ($0.03) EPS. Research analysts forecast that Lithium Americas will post 0.17 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $572,000. Goldman Sachs Group Inc. purchased a new stake in Lithium Americas (Argentina) in the first quarter worth approximately $1,064,000. Woodline Partners LP purchased a new stake in Lithium Americas (Argentina) in the first quarter worth approximately $3,456,000. JPMorgan Chase & Co. bought a new stake in Lithium Americas (Argentina) in the 2nd quarter worth approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after purchasing an additional 3,575 shares during the period. 49.17% of the stock is currently owned by institutional investors.

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.