Lithium Americas (Argentina) (TSE:LAR) Price Target Raised to C$9.00

Lithium Americas (Argentina) (TSE:LAR) had its price objective increased by TD Securities from C$7.00 to C$9.00 in a research report released on Tuesday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently issued reports on LAR. Scotiabank raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. HSBC raised Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Three equities research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. According to MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of C$13.38.

Lithium Americas (Argentina) Stock Down 4.9%

Shares of TSE:LAR opened at C$9.51 on Tuesday. The firm has a market capitalization of C$1.54 billion, a PE ratio of -19.02 and a beta of 1.74. The company has a 50-day moving average price of C$9.84 and a two-hundred day moving average price of C$7.74. Lithium Americas has a twelve month low of C$2.36 and a twelve month high of C$12.03.

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

Insider Buying and Selling

In other news, insider Daniel Cherniak sold 30,977 shares of the firm’s 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 value of C$327,426.89. Following the completion of the transaction, the insider directly owned 24,754 shares in the company, valued at approximately C$261,649.78. This trade represents a 55.58% decrease in their ownership of the stock. Also, insider Ignacio Celorrio sold 50,453 shares of the business’s 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 transaction, the insider directly owned 324,110 shares of the company’s stock, valued at approximately 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’.