Lithium Americas (Argentina) Corp. (NYSE:LAR) Stock Has Consensus Price Target of $10.07 According to Brokerages

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $10.07.

Several equities research analysts recently commented on the company. Wall Street Zen cut Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Tuesday, September 29th. Stifel Nicolaus raised their price objective on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Scotiabank reduced their target price on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research note on Wednesday, August 12th. Finally, Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th.

Lithium Americas (Argentina) Stock Up 1.8%

LAR opened at $4.25 on Thursday. The firm has a market cap of $698.25 million and a PE ratio of -12.51. The business has a fifty day simple moving average of $5.81 and a 200-day simple moving average of $7.49. Lithium Americas has a fifty-two week low of $3.62 and a fifty-two week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period in the previous year, the firm posted ($0.03) EPS. On average, equities research analysts anticipate that Lithium Americas will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently added to or reduced their stakes in LAR. Weiss Asset Management LP acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $756,000. Walleye Capital LLC bought a new stake in Lithium Americas (Argentina) in the first quarter valued at about $695,000. Bank of America Corp DE increased its holdings in Lithium Americas (Argentina) by 45.4% in the first quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock valued at $4,475,000 after purchasing an additional 209,252 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in Lithium Americas (Argentina) by 1,042.6% in the third quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock valued at $878,000 after buying an additional 145,606 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in Lithium Americas (Argentina) in the first quarter valued at about $5,328,000. 49.17% of the stock is owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp., formerly known as Lithium Americas (Argentina) Corp. and associated with the NYSE symbol LAR, is a lithium development and production company focused on projects in Argentina. Its principal asset is the Cauchari-Olaroz lithium brine project in Jujuy Province, a region recognized for its significant lithium resources.

Cauchari-Olaroz produces lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems, consumer electronics and other applications.