Scotiabank Forecasts Strong Price Appreciation for Lithium Americas (Argentina) (NYSE:LAR) Stock

by · The Cerbat Gem

Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) had its target price hoisted by analysts at Scotiabank from $8.50 to $11.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price suggests a potential upside of 12.24% from the stock’s current price.

A number of other brokerages have also weighed in on LAR. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.75 to $9.60 in a report on Monday, January 19th. TD Securities lifted their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Zacks Research raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $8.13.

View Our Latest Report on Lithium Americas (Argentina)

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock traded down $0.39 on Friday, reaching $9.80. 741,321 shares of the company traded hands, compared to its average volume of 3,440,101. The company has a 50 day moving average of $8.17 and a 200 day moving average of $6.82. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $12.05. The firm has a market capitalization of $1.59 billion and a PE ratio of -25.83.

Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, analysts anticipate that Lithium Americas will post 0.44 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently bought and sold shares of LAR. Cetera Investment Advisers boosted its holdings in Lithium Americas (Argentina) by 7.0% in the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after purchasing an additional 1,162 shares during the last quarter. Cibc World Market Inc. boosted its stake in shares of Lithium Americas (Argentina) by 2.3% during the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock valued at $428,000 after buying an additional 2,940 shares during the last quarter. Brown Advisory Inc. grew its position in shares of Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after buying an additional 3,000 shares in the last quarter. Raymond James Financial Inc. raised its holdings in Lithium Americas (Argentina) by 14.1% in the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after acquiring an additional 3,214 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares during the last quarter. 49.17% of the stock is owned by institutional investors and hedge funds.

About Lithium Americas (Argentina)

(Get Free Report)

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.

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