Lithium Americas (Argentina) (TSE:LAR) Reaches New 52-Week High – Should You Buy?

Lithium Americas (Argentina) Corp. (TSE:LAR)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as C$16.45 and last traded at C$16.36, with a volume of 163274 shares traded. The stock had previously closed at C$16.00.

Analysts Set New Price Targets

Several brokerages have recently commented on LAR. HSBC raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, January 19th. Canaccord Genuity Group boosted their price target on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Finally, TD Securities boosted their price target on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Three equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and an average price target of C$13.38.

Lithium Americas (Argentina) Trading Down 5.2%

The business has a 50 day simple moving average of C$11.12 and a two-hundred day simple moving average of C$9.33. The company has a market cap of C$2.41 billion, a PE ratio of -31.53 and a beta of 1.88.

Lithium Americas (Argentina) (TSE:LAR) last posted its quarterly earnings data on Tuesday, May 12th. The company reported C$0.07 earnings per share (EPS) for the quarter.

About Lithium Americas (Argentina)

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’.