Lithium Americas (Argentina) Corp. (NYSE:LAR) Receives $4.92 Average Target Price from Analysts

Lithium Americas (Argentina) Corp. (NYSE:LAR) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $4.9167.

LAR has been the topic of several research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday. National Bankshares increased their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Scotiabank lifted their price target on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a report on Wednesday, November 12th. Finally, Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th.

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds have recently made changes to their positions in LAR. Stratos Wealth Advisors LLC bought a new position in Lithium Americas (Argentina) during the 2nd quarter worth $28,000. Insigneo Advisory Services LLC bought a new stake in Lithium Americas (Argentina) in the third quarter valued at $34,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) during the second quarter valued at $37,000. Sage Investment Counsel LLC bought a new position in shares of Lithium Americas (Argentina) during the third quarter worth about $38,000. Finally, BNP Paribas Financial Markets lifted its position in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after purchasing an additional 3,552 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

Shares of Lithium Americas (Argentina) stock opened at $5.54 on Friday. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $5.86. The firm’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $3.69. The firm has a market cap of $899.14 million and a PE ratio of -11.08.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data 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, equities analysts predict that Lithium Americas will post -0.05 earnings per share for the current 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.