Lithium Americas (Argentina) (NYSE:LAR) Sees Large Volume Increase – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR) saw an uptick in trading volume on Wednesday . 2,772,884 shares changed hands during mid-day trading, an increase of 57% from the previous session’s volume of 1,763,788 shares.The stock last traded at $5.46 and had previously closed at $4.79.

Analysts Set New Price Targets

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, October 8th. Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. National Bank Financial raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. National Bankshares upgraded Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $4.25.

Lithium Americas (Argentina) Trading Down 5.8%

The company’s fifty day simple moving average is $4.10 and its 200 day simple moving average is $3.07. The stock has a market capitalization of $795.27 million and a P/E ratio of -9.80.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Equities research analysts predict that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of large investors have recently modified their holdings of LAR. Van ECK Associates Corp increased its position in shares of Lithium Americas (Argentina) by 119.3% in the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after purchasing an additional 5,219,416 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Lithium Americas (Argentina) by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock valued at $9,975,000 after purchasing an additional 408,065 shares during the last quarter. CenterBook Partners LP grew its stake in Lithium Americas (Argentina) by 102.1% in the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after buying an additional 2,122,035 shares in the last quarter. Hancock Prospecting Pty Ltd bought a new position in shares of Lithium Americas (Argentina) in the 1st quarter worth $5,368,000. Finally, Invesco Ltd. raised its position in shares of Lithium Americas (Argentina) by 6.1% during the 3rd quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock valued at $7,790,000 after buying an additional 133,572 shares in the last quarter. Institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

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.