Lithium Americas (Argentina) (NYSE:LAR) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a strong sell rating to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other equities research analysts also recently issued reports on LAR. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Scotiabank cut their price target on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and an average target price of $8.57.

Lithium Americas (Argentina) Trading Up 1.4%

LAR opened at $6.84 on Thursday. The firm has a 50-day moving average price of $7.41 and a 200-day moving average price of $7.91. Lithium Americas has a twelve month low of $2.97 and a twelve month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period in the prior year, the company earned ($0.03) EPS. Equities research analysts anticipate that Lithium Americas will post 0.2 EPS for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its position in shares of Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after acquiring an additional 5,900 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Lithium Americas (Argentina) by 45.3% in the third 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 during the last quarter. Fifth Third Bancorp increased its position in shares of Lithium Americas (Argentina) by 250.0% in the fourth quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock worth $78,000 after purchasing an additional 10,000 shares during the last quarter. Modera Wealth Management LLC purchased a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $97,000. Finally, VectorGlobal IAG Inc. purchased a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $100,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.