Lithium Americas (Argentina) Corp. (NYSE:LAR) Short Interest Down 18.9% in January

Lithium Americas (Argentina) Corp. (NYSE:LAR) saw a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 6,371,015 shares, a decrease of 18.9% from the January 15th total of 7,853,267 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 3,964,254 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 3,964,254 shares, the days-to-cover ratio is currently 1.6 days. Approximately 4.9% of the shares of the company are short sold.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAR traded up $0.31 during trading on Monday, hitting $6.94. 2,435,694 shares of the company were exchanged. Lithium Americas has a 52-week low of $1.71 and a 52-week high of $8.80. The stock has a 50 day moving average of $6.61 and a 200 day moving average of $4.87. The company has a market cap of $1.13 billion and a PE ratio of -13.88.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LAR. TD Securities raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a research report on Tuesday, January 13th. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and upped their price target for the company from $4.75 to $9.60 in a research report on Monday, January 19th. Finally, Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the stock from $4.25 to $7.75 in a report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average price target of $7.44.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LAR. Cibc World Market Inc. increased its position in shares of Lithium Americas (Argentina) by 2.3% during the third 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 period. Brown Advisory Inc. grew its stake in Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after acquiring an additional 3,000 shares in the last quarter. Raymond James Financial Inc. increased its holdings in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after acquiring an additional 3,214 shares during the period. BNP Paribas Financial Markets lifted its stake in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after purchasing an additional 3,552 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares during the period. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

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.