Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives $9.32 Average PT from Analysts

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) have been given a consensus recommendation of “Moderate Buy” by the eight analysts 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 issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $9.3167.

Several analysts recently weighed in on LAR shares. Stifel Nicolaus boosted their price objective on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Scotiabank decreased their price target on 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 upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several large investors have recently modified their holdings of the company. Royal Bank of Canada acquired a new position in Lithium Americas (Argentina) in the first quarter valued at $572,000. Goldman Sachs Group Inc. bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $1,064,000. Woodline Partners LP bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth about $3,456,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at about $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares during the period. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAR opened at $6.81 on Wednesday. The stock has a 50-day moving average price of $6.76 and a two-hundred day moving average price of $7.86. Lithium Americas has a 12 month low of $2.97 and a 12 month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter in the prior year, the company posted ($0.03) earnings per share. Equities analysts forecast that Lithium Americas will post 0.17 earnings per share for the current fiscal year.

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.