Lithium Americas (Argentina) (TSE:LAR) Price Target Raised to C$17.75

Lithium Americas (Argentina) (TSE:LAR) had its price objective hoisted by investment analysts at Canaccord Genuity Group from C$17.50 to C$17.75 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 80.57% from the stock’s current price.

A number of other research analysts have also weighed in on LAR. HSBC raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, TD Securities increased their price objective on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus price target of C$13.38.

Lithium Americas (Argentina) Trading Up 14.4%

Shares of TSE:LAR traded up C$1.24 during mid-day trading on Tuesday, reaching C$9.83. The stock had a trading volume of 506,699 shares, compared to its average volume of 313,993. The business’s 50 day moving average price is C$9.94 and its 200 day moving average price is C$7.68. Lithium Americas has a 1 year low of C$2.36 and a 1 year high of C$12.03. The company has a market cap of C$1.60 billion, a P/E ratio of -19.66 and a beta of 1.74.

Lithium Americas (Argentina) (TSE:LAR) last released its quarterly earnings data on Monday, March 23rd. The company reported C$0.01 earnings per share (EPS) for the quarter.

Insider Activity at Lithium Americas (Argentina)

In other news, insider Daniel Cherniak sold 30,977 shares of the stock in a transaction that occurred on Wednesday, January 28th. The stock was sold at an average price of C$10.57, for a total value of C$327,426.89. Following the sale, the insider directly owned 24,754 shares in the company, valued at approximately C$261,649.78. This represents a 55.58% decrease in their ownership of the stock. Also, insider Ignacio Celorrio sold 50,453 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total value 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 ownership of the stock.

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’.