Lithium Americas (Argentina) Corp. (NYSE:LAR) Stock Has Consensus Target Price of $9.32 According to Brokerages

Lithium Americas (Argentina) Corp. (NYSE:LAR) has been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $9.32.

LAR has been the subject of several recent analyst reports. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Stifel Nicolaus increased their target price on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Tuesday. Finally, Scotiabank decreased 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, August 12th.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new stake in Lithium Americas (Argentina) during the 1st quarter worth $756,000. Walleye Capital LLC acquired a new position in Lithium Americas (Argentina) in the first quarter valued at $695,000. Bank of America Corp DE boosted its stake in Lithium Americas (Argentina) by 45.4% in the first quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock valued at $4,475,000 after acquiring an additional 209,252 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Lithium Americas (Argentina) during the first quarter worth about $5,328,000. Finally, ABN Amro Investment Solutions purchased a new position in shares of Lithium Americas (Argentina) during the first quarter worth about $6,335,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Stock Performance

LAR stock opened at $5.54 on Friday. The company’s 50 day moving average price is $6.27 and its 200 day moving average price is $7.69. Lithium Americas has a fifty-two week low of $3.60 and a fifty-two week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results 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 business posted ($0.03) EPS. Equities analysts anticipate that Lithium Americas will post 0.17 earnings per share for the current fiscal year.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp., now known as Lithium Argentina Corp., is a lithium development and production company focused on assets in Argentina. Its principal business is the production of lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems and consumer electronics.

The company’s primary asset is the Cauchari-Olaroz lithium project in Jujuy Province, Argentina. Cauchari-Olaroz is a brine-based operation that began producing lithium carbonate in 2023.