Lithium Americas (Argentina) (NYSE:LAR) Shares Up 8.7% - Still a Buy?

Key Points

• Shares jumped 8.7% intraday to about $8.01 on Monday amid lighter trading (934,524 shares, down ~73% vs. average volume).
• Brokerages have raised targets and ratings recently—TD Securities lifted its target to $9.00 and several firms moved to Buy/Outperform—leaving a MarketBeat consensus of “Moderate Buy” with an average target of $7.77.
• LAR has a market cap of ~$1.29 billion and a negative P/E (-16.86); its principal asset is the Cauchari‑Olaroz lithium brine project in Argentina’s Lithium Triangle, and institutions own about 49% of the stock.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s stock price shot up 8.7% during mid-day trading on Monday . The stock traded as high as $7.92 and last traded at $8.0130. 934,524 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,412,003 shares. The stock had previously closed at $7.37.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LAR. Stifel Nicolaus raised their target price on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a "buy" rating in a research note on Wednesday, January 7th. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a "sell" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings reissued a "sell (d+)" rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. TD Securities increased their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Finally, Scotiabank increased their price target on shares of Lithium Americas (Argentina) from $7.75 to $8.50 and gave the company a "sector outperform" rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $7.77.

Lithium Americas (Argentina) Stock Performance

The stock has a market capitalization of $1.29 billion and a P/E ratio of -16.86. The company's fifty day simple moving average is $6.99 and its two-hundred day simple moving average is $5.95.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Insigneo Advisory Services LLC bought a new position in Lithium Americas (Argentina) in the 3rd quarter valued at about $34,000. JPMorgan Chase & Co. bought a new position in shares of Lithium Americas (Argentina) during the second quarter worth approximately $37,000. Sage Investment Counsel LLC bought a new position in shares of Lithium Americas (Argentina) during the third quarter worth approximately $38,000. BNP Paribas Financial Markets increased its holdings in shares of Lithium Americas (Argentina) by 45.3% during 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 period. Finally, TD Waterhouse Canada Inc. increased its holdings in shares of Lithium Americas (Argentina) by 538.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company's stock worth $39,000 after purchasing an additional 5,900 shares during the period. 49.17% of the stock is owned by institutional investors.

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.

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