Lithium Americas (Argentina) (NYSE:LAR) Stock Price Up 5.3% - Still a Buy?

Key Points

• Shares of Lithium Americas (Argentina) increased by 5.3%, reaching a last trading price of $3.39, though trading volume fell 15% compared to the average.
• Research firm National Bankshares upgraded the stock from "sector perform" to "outperform," raising the price target to $4.50, while other analysts generally rated it as a "Moderate Buy" with a consensus target of $4.00.
• Institutional investors own 49.17% of the stock, with significant stake increases reported from firms like MIRAE ASSET GLOBAL ETFS HOLDINGS and Invesco Ltd..

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) traded up 5.3% on Monday . The company traded as high as $3.40 and last traded at $3.39. 973,425 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 1,144,594 shares. The stock had previously closed at $3.22.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a research note on Wednesday, August 20th. BMO Capital Markets lifted their price target on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a "market perform" rating in a research report on Tuesday, August 12th. National Bankshares raised Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. Scotiabank reaffirmed a "sector perform" rating and issued a $3.50 price target (up from $3.00) on shares of Lithium Americas (Argentina) in a research report on Wednesday, August 13th. Finally, National Bank Financial raised Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.

Lithium Americas (Argentina) Trading Down 0.3%

The company has a fifty day moving average price of $2.77 and a two-hundred day moving average price of $2.34.

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors have recently modified their holdings of LAR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $9,308,000. Hancock Prospecting Pty Ltd acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $5,368,000. CenterBook Partners LP acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $4,613,000. Woodline Partners LP acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $3,456,000. Finally, Invesco Ltd. acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $3,307,000. 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.