Lithium Americas (Argentina) (NYSE:LAR) Trading 5.8% Higher - Here's Why

Key Points

• Lithium Americas (Argentina) stock rose by 5.8%, reaching a trading high of $3.64, with a total of 1,103,258 shares traded.
• Research analysts have shown increased confidence in the company, with ratings upgrades and a revised average price target of $4.00.
• Institutional investors have been actively purchasing shares, with hedge funds owning approximately 49.17% of the stock.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) traded up 5.8% during mid-day trading on Thursday . The company traded as high as $3.64 and last traded at $3.64. 1,103,258 shares were traded during trading, a decline of 9% from the average session volume of 1,218,271 shares. The stock had previously closed at $3.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Scotiabank reaffirmed a "sector perform" rating and issued a $3.50 price objective (up previously from $3.00) on shares of Lithium Americas (Argentina) in a report on Wednesday, August 13th. Zacks Research raised Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. BMO Capital Markets lifted their price objective on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a report on Tuesday, August 12th. National Bank Financial raised Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $4.00.

Lithium Americas (Argentina) Trading Up 13.7%

The business's 50-day moving average is $3.13 and its two-hundred day moving average is $2.45. The stock has a market capitalization of $634.59 million and a PE ratio of -35.55.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC purchased a new position in Lithium Americas (Argentina) in the 2nd quarter valued at about $28,000. Sandhill Capital Partners LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $29,000. JPMorgan Chase & Co. acquired a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at about $37,000. HighTower Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $40,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at about $41,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

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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