Lithium Americas (Argentina) (TSE:LAR) Sets New 12-Month High – Here’s What Happened
by Renee Jackson · The Cerbat GemLithium Americas (Argentina) Corp. (TSE:LAR – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$12.15 and last traded at C$12.15, with a volume of 82383 shares trading hands. The stock had previously closed at C$11.37.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on LAR shares. Canaccord Genuity Group boosted their target price on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. TD Securities boosted their target price on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, HSBC upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, January 19th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and an average target price of C$13.38.
Lithium Americas (Argentina) Stock Up 6.5%
The company’s 50 day moving average price is C$9.69 and its two-hundred day moving average price is C$8.32. The stock has a market cap of C$1.97 billion, a P/E ratio of -25.77 and a beta of 1.75.
Lithium Americas (Argentina) (TSE:LAR – Get Free Report) last posted its quarterly earnings results on Monday, March 23rd. The company reported C$0.01 earnings per share for the quarter.
Insider Activity at Lithium Americas (Argentina)
In other news, insider Daniel Cherniak sold 30,977 shares of Lithium Americas (Argentina) stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the completion of the sale, the insider owned 24,754 shares of the company’s stock, valued at approximately C$261,649.78. The trade was a 55.58% decrease in their ownership of the stock. Also, insider Ignacio Celorrio sold 50,453 shares of Lithium Americas (Argentina) stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the sale, the insider directly owned 324,110 shares of the company’s stock, valued at C$3,276,752.10. This represents a 13.47% decrease in their position.
Lithium Americas (Argentina) Company Profile
Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.