Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $8.50

Lithium Americas (Argentina) (NYSE:LAR) had its target price lifted by analysts at Scotiabank from $7.75 to $8.50 in a report released on Monday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 19.63% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus raised their price target on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, January 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. National Bank Financial raised their target price on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. TD Securities boosted their target price on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target on the stock in a report on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $7.77.

Lithium Americas (Argentina) Stock Performance

Shares of LAR stock traded down $0.42 during trading hours on Monday, hitting $7.11. 1,131,100 shares of the company were exchanged, compared to its average volume of 3,464,149. The company has a 50 day simple moving average of $7.03 and a two-hundred day simple moving average of $5.81. The firm has a market cap of $1.15 billion and a P/E ratio of -15.16. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $8.80.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC bought a new stake in Lithium Americas (Argentina) in the 3rd quarter worth about $481,000. Van ECK Associates Corp lifted its position in shares of Lithium Americas (Argentina) by 119.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after buying an additional 5,219,416 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Lithium Americas (Argentina) by 347.3% in the 3rd quarter. Quantbot Technologies LP now owns 196,265 shares of the company’s stock worth $656,000 after buying an additional 152,386 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $553,000. Finally, CenterBook Partners LP increased its position in shares of Lithium Americas (Argentina) by 102.1% during the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after acquiring an additional 2,122,035 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

About Lithium Americas (Argentina)

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.