Lithium Americas (Argentina) (NYSE:LAR) Stock Price Up 19% - What's Next?

Key Points

• Lithium Americas (Argentina) Corp. (NYSE:LAR) saw its stock price increase by 19%, trading up to $5.34 from a previous close of $4.42.
• Multiple analysts have raised their ratings on LAR, with National Bankshares now giving it an "outperform" rating and a price target increase to $4.50.
• Hedge funds and institutional investors have been active, with 49.17% of the company's stock now owned by these entities, indicating significant interest in the firm.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) was up 19% on Tuesday . The company traded as high as $5.34 and last traded at $5.26. Approximately 3,900,418 shares traded hands during mid-day trading, an increase of 185% from the average daily volume of 1,367,030 shares. The stock had previously closed at $4.42.

Wall Street Analyst Weigh In

LAR has been the topic of several recent analyst reports. National Bankshares raised Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and upped their price target for the company 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 target price (up previously from $3.00) on shares of Lithium Americas (Argentina) in a research report on Wednesday, August 13th. BMO Capital Markets increased 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. Cormark raised shares of Lithium Americas (Argentina) to a "moderate buy" rating in a research report on Wednesday, August 20th. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. One 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 given a Sell rating to the company's stock. According to data from MarketBeat, Lithium Americas (Argentina) currently has a consensus rating of "Hold" and an average target price of $4.00.

Lithium Americas (Argentina) Stock Performance

The stock has a market cap of $809.88 million and a P/E ratio of -45.36. The firm's 50 day moving average is $3.26 and its 200 day moving average is $2.53.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Lithium Americas (Argentina) in the 1st quarter valued at $9,308,000. Hancock Prospecting Pty Ltd acquired a new position in shares of Lithium Americas (Argentina) during the first quarter valued at $5,368,000. CenterBook Partners LP acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $4,613,000. Woodline Partners LP acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at about $3,456,000. Finally, Invesco Ltd. bought a new position in Lithium Americas (Argentina) in the 1st quarter worth approximately $3,307,000. Hedge funds and other institutional investors own 49.17% of the company's stock.

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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