Lithium Americas (Argentina) (NYSE:LAR) Sees Large Volume Increase - Here's What Happened

Key Points

• Lithium Americas (Argentina) saw a significant increase in trading volume, with 2,073,064 shares traded, marking a 65% rise from the previous session.
• Numerous analysts have updated their ratings and price targets for the stock, with BMO Capital Markets raising their target from $2.50 to $4.00 and several other firms issuing varying ratings from "strong buy" to "hold."
• The company has a current market capitalization of $577.79 million and is focused on advancing its lithium projects located in Argentina.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) shares saw an uptick in trading volume on Friday . 2,073,064 shares traded hands during mid-day trading, an increase of 65% from the previous session's volume of 1,258,715 shares.The stock last traded at $3.60 and had previously closed at $3.84.

Analysts Set New Price Targets

LAR has been the topic of a number of recent research reports. BMO Capital Markets boosted their price objective on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a "market perform" rating in a research note on Tuesday, August 12th. Zacks Research upgraded Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 11th. Cormark raised shares of Lithium Americas (Argentina) to a "moderate buy" rating in a report on Wednesday, August 20th. Finally, National Bankshares upgraded Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $2.90 to $4.50 in a report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $4.00.

Lithium Americas (Argentina) Price Performance

The company has a fifty day moving average of $3.15 and a two-hundred day moving average of $2.46. The stock has a market capitalization of $577.79 million and a P/E ratio of -32.36.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently modified their holdings of the business. Stratos Wealth Advisors LLC acquired a new stake in Lithium Americas (Argentina) during the second quarter worth about $28,000. Sandhill Capital Partners LLC bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $29,000. JPMorgan Chase & Co. acquired a new stake in Lithium Americas (Argentina) in the second quarter worth $37,000. HighTower Advisors LLC bought a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $40,000. Finally, Diversify Advisory Services LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter valued at about $40,000. 49.17% of the stock is owned by institutional investors and hedge funds.

About Lithium Americas (Argentina)

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.

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