Lithium Americas (Argentina) (NYSE:LAR) Trading 9.3% Higher - Time to Buy?

Key Points

• Lithium Americas (Argentina) Corp. experienced a significant stock price increase of 9.3%, trading at $3.65 after closing at $3.34.
• Analysts have generally upgraded their ratings on LAR, with the stock receiving a consensus rating of "Moderate Buy" and an average price target of $4.00.
• Institutional investors have shown increasing interest, owning 49.17% of the company's stock after multiple new positions were acquired in the 1st quarter.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s stock price was up 9.3% during mid-day trading on Wednesday . The stock traded as high as $3.66 and last traded at $3.65. Approximately 1,459,292 shares were traded during mid-day trading, an increase of 14% from the average daily volume of 1,285,133 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

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

Lithium Americas (Argentina) Stock Performance

The company has a market cap of $589.15 million and a price-to-earnings ratio of -33.00. The firm's 50-day moving average price is $3.19 and its 200 day moving average price is $2.49.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $592,000. Robertson Stephens Wealth Management LLC bought a new position in Lithium Americas (Argentina) in the first quarter valued at $56,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $41,000. Balboa Wealth Partners bought a new stake in Lithium Americas (Argentina) during the 1st quarter worth about $90,000. Finally, Mutual Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth about $103,000. Institutional investors and hedge funds 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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