Lithium Americas (Argentina) (TSE:LAR) Trading Up 15.5% – Should You Buy?

Lithium Americas (Argentina) Corp. (TSE:LAR)’s share price traded up 15.5% during mid-day trading on Monday . The company traded as high as C$7.27 and last traded at C$7.21. 483,327 shares traded hands during mid-day trading, an increase of 123% from the average session volume of 216,756 shares. The stock had previously closed at C$6.24.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LAR. Scotiabank cut shares of Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a research report on Wednesday, August 13th. Cormark raised Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Finally, National Bank Financial upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Lithium Americas (Argentina) Price Performance

The firm’s 50 day moving average is C$5.49 and its 200 day moving average is C$4.14. The company has a market capitalization of C$1.13 billion, a PE ratio of -13.86 and a beta of 1.84.

Lithium Americas (Argentina) (TSE:LAR) last announced its quarterly earnings results on Monday, November 10th. The company reported C($0.40) earnings per share (EPS) for the quarter.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.