Lithium Americas (Argentina) (NYSE:LAR) Sets New 52-Week High – What’s Next?

by · The Cerbat Gem

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR – Get Free Report) hit a new 52-week high during trading on Friday . The stock traded as high as $5.67 and last traded at $5.60, with a volume of 1001871 shares. The stock had previously closed at $5.48.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. National Bank Financial raised Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. Scotiabank boosted their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research note on Wednesday, November 12th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Cormark raised shares of Lithium Americas (Argentina) to a “moderate buy” rating in a report on Wednesday, August 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. One 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’s stock. According to data from MarketBeat.com, Lithium Americas (Argentina) presently has a consensus rating of “Hold” and an average target price of $4.25.

View Our Latest Stock Report on LAR

Lithium Americas (Argentina) Stock Performance

The company has a market cap of $902.39 million and a price-to-earnings ratio of -11.12. The firm’s 50-day moving average price is $4.30 and its 200 day moving average price is $3.17.

Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). As a group, equities research analysts predict that Lithium Americas will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the 2nd quarter worth about $28,000. Sandhill Capital Partners LLC acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $29,000. Insigneo Advisory Services LLC bought a new stake in Lithium Americas (Argentina) in the third quarter valued at approximately $34,000. JPMorgan Chase & Co. bought a new stake in Lithium Americas (Argentina) in the second quarter valued at approximately $37,000. Finally, Sage Investment Counsel LLC acquired a new stake in Lithium Americas (Argentina) in the third quarter worth $38,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

(Get Free Report)

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.

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