Lithium Americas (Argentina) (NYSE:LAR) Stock Price Up 11% - Here's Why

Key Points

• Lithium Americas (Argentina) stock surged by 11% on Friday, trading as high as $4.56, following a prior close of $4.10.
• Wall Street analysts have raised their ratings and price targets, with BMO Capital Markets increasing their target from $2.50 to $4.00, and National Bankshares upgrading their rating to "outperform" with a target increase to $4.50.
• Institutional investors own nearly half of the stock, with notable recent investments from CenterBook Partners and Goldman Sachs, highlighting growing interest in the company.

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) rose 11% on Friday . The stock traded as high as $4.56 and last traded at $4.55. Approximately 1,023,755 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 1,625,797 shares. The stock had previously closed at $4.10.

Wall Street Analyst Weigh In

LAR has been the topic of a number of research analyst reports. BMO Capital Markets increased their price target on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a "market perform" rating in a report on Tuesday, August 12th. National Bankshares raised Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $2.90 to $4.50 in a research note on Tuesday, August 12th. Weiss Ratings reissued a "sell (d)" rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. Cormark upgraded Lithium Americas (Argentina) to a "moderate buy" rating in a research report on Wednesday, August 20th. Finally, Zacks Research upgraded shares of Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $4.00.

Lithium Americas (Argentina) Stock Up 10.2%

The stock has a market cap of $733.60 million and a P/E ratio of -41.09. The firm's fifty day moving average price is $3.68 and its 200-day moving average price is $2.74.

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently modified their holdings of LAR. CenterBook Partners LP bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $4,613,000. Goldman Sachs Group Inc. bought a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at $1,064,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $592,000. D.A. Davidson & CO. bought a new position in Lithium Americas (Argentina) in the 1st quarter worth about $57,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in Lithium Americas (Argentina) during the 1st quarter worth about $41,000. 49.17% of the stock is owned by institutional investors.

Lithium Americas (Argentina) Company Profile

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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