Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Up - Here's Why

Key Points

• Lithium Americas (Argentina) shares experienced a significant price increase, opening at $4.80, up from a previous close of $4.47, and trading at $5.13 with a volume of over 1.9 million shares.
• Analysts have issued positive ratings and target price increases for Lithium Americas (Argentina), with National Bank Financial upgrading it to a "strong-buy" and BMO raising its target from $2.50 to $4.00.
• Institutional investors have increased their holdings, with notable acquisitions from firms such as Stratos Wealth Advisors and JPMorgan Chase, resulting in institutional ownership of approximately 49.17% of the company's stock.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $4.47, but opened at $4.80. Lithium Americas (Argentina) shares last traded at $5.13, with a volume of 1,905,427 shares trading hands.

Analysts Set New Price Targets

LAR has been the topic of several recent analyst reports. National Bank Financial raised Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 11th. Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a research note on Wednesday, August 20th. BMO Capital Markets upped their price target on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a research note on Tuesday, August 12th. National Bankshares upgraded Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and raised their target price for the company from $2.90 to $4.50 in a report on Tuesday, August 12th. Finally, Scotiabank restated a "sector perform" rating and set a $3.50 target price (up from $3.00) on shares of Lithium Americas (Argentina) in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lithium Americas (Argentina) currently has a consensus rating of "Hold" and a consensus target price of $4.00.

Lithium Americas (Argentina) Stock Performance

The company has a market cap of $834.22 million and a price-to-earnings ratio of -46.73. The business has a 50-day simple moving average of $3.43 and a 200-day simple moving average of $2.60.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently made changes to their positions in the business. Stratos Wealth Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth about $28,000. Sandhill Capital Partners LLC purchased a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $29,000. JPMorgan Chase & Co. purchased a new position in Lithium Americas (Argentina) during the 2nd quarter worth approximately $37,000. HighTower Advisors LLC purchased a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $40,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $41,000. Institutional investors and hedge funds own 49.17% of the company's stock.

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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