Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Up – Should You Buy?

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.73, but opened at $4.93. Lithium Americas (Argentina) shares last traded at $5.09, with a volume of 695,373 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LAR shares. Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Finally, Scotiabank boosted their price objective on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Hold” and an average price target of $4.25.

Lithium Americas (Argentina) Price Performance

The firm has a market capitalization of $801.76 million and a price-to-earnings ratio of -9.88. The business has a 50 day moving average of $4.70 and a 200 day moving average of $3.52.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). On average, sell-side analysts forecast that Lithium Americas will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAR. Stratos Wealth Advisors LLC bought a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at approximately $28,000. Insigneo Advisory Services LLC acquired a new stake in Lithium Americas (Argentina) in the 3rd quarter valued at $34,000. JPMorgan Chase & Co. acquired a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at $37,000. Sage Investment Counsel LLC bought a new stake in Lithium Americas (Argentina) in the third quarter valued at $38,000. Finally, BNP Paribas Financial Markets raised its stake in Lithium Americas (Argentina) by 45.3% during 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 in the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.