Zacks Research Upgrades Lithium Americas (Argentina) (NYSE:LAR) to Strong-Buy

Lithium Americas (Argentina) (NYSE:LAR) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.75 to $9.60 in a report on Monday, January 19th. TD Securities lifted their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target for the company in a report on Tuesday, January 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $7.77.

Lithium Americas (Argentina) Stock Down 3.1%

Shares of LAR stock opened at $11.43 on Monday. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $12.05. The firm’s 50-day moving average is $8.05 and its two-hundred day moving average is $6.73.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, equities analysts predict that Lithium Americas will post 0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of large investors have recently bought and sold shares of the company. Insigneo Advisory Services LLC acquired a new position in shares of Lithium Americas (Argentina) during the 3rd quarter worth $34,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) during the 2nd quarter worth $37,000. BNP Paribas Financial Markets grew its stake in shares of 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 purchasing an additional 3,552 shares during the period. TD Waterhouse Canada Inc. grew its stake in shares of Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after purchasing an additional 5,900 shares during the period. Finally, Diversify Advisory Services LLC acquired a new position in shares of Lithium Americas (Argentina) during the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.