Lithium Americas (Argentina) (TSE:LAR) Sets New 52-Week High – Time to Buy?

Lithium Americas (Argentina) Corp. (TSE:LAR)’s share price reached a new 52-week high on Wednesday . The company traded as high as C$7.49 and last traded at C$7.31, with a volume of 898292 shares trading hands. The stock had previously closed at C$6.24.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Cormark upgraded Lithium Americas (Argentina) to a “moderate buy” rating in a research report on Wednesday, August 20th. Scotiabank cut shares of Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, National Bank Financial upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Lithium Americas (Argentina) Trading Up 17.1%

The company has a market capitalization of C$1.19 billion, a PE ratio of -66.45 and a beta of 1.79. The company’s 50 day moving average price is C$4.87 and its 200-day moving average price is C$3.64.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.