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

Lithium Americas (Argentina) (NYSE:LAR) had its price target lifted by research analysts at Scotiabank from $7.75 to $8.50 in a research note issued on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 19.63% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. National Bank Financial upped their target price on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their target price for the company from $4.75 to $9.60 in a research report on Monday, January 19th. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective for the company in a research note on Tuesday, January 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average price target of $7.77.

Lithium Americas (Argentina) Stock Performance

Shares of Lithium Americas (Argentina) stock traded down $0.42 during midday trading on Monday, hitting $7.11. 1,131,100 shares of the company traded hands, compared to its average volume of 3,464,149. The stock has a market cap of $1.15 billion and a price-to-earnings ratio of -15.16. The firm’s fifty day moving average price is $7.03 and its 200-day moving average price is $5.81. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $8.80.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently modified their holdings of the company. Insigneo Advisory Services LLC bought a new position in Lithium Americas (Argentina) during the third quarter worth $34,000. JPMorgan Chase & Co. bought a new stake in Lithium Americas (Argentina) during the second quarter valued at $37,000. Sage Investment Counsel LLC bought a new stake in Lithium Americas (Argentina) during the third quarter valued at $38,000. BNP Paribas Financial Markets grew its holdings in Lithium Americas (Argentina) by 45.3% during the 3rd 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. Finally, TD Waterhouse Canada Inc. raised its position in shares of Lithium Americas (Argentina) by 538.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after acquiring an additional 5,900 shares in the last quarter. 49.17% of the stock is 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.