Lithium Americas (Argentina) (TSE:LAR) Hits New 1-Year High - What's Next?

Key Points

• Lithium Americas (Argentina) (TSE:LAR) hit a new 52‑week high, trading as high as C$14.22 and last at C$13.89 on Monday with about 24,848 shares traded.
• Analysts are largely bullish—three rate the stock Strong Buy and two rate it Buy, with upgrades from Scotiabank, HSBC, TD Securities and Canaccord (Canaccord raised its target to C$17.75); MarketBeat shows a consensus target of C$13.38.
• The company is an emerging lithium carbonate producer operating the Cauchari‑Olaroz brine with partner Ganfeng, has a market cap of C$2.29 billion, a negative PE (‑30.00), and 50/200‑day moving averages of C$10.45/C$8.86.

Lithium Americas (Argentina) Corp. (TSE:LAR - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$14.22 and last traded at C$13.89, with a volume of 24848 shares. The stock had previously closed at C$14.03.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. TD Securities boosted their target price on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Scotiabank raised Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, January 12th. Canaccord Genuity Group upped their price target on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a "buy" rating in a report on Tuesday, March 24th. Finally, HSBC raised Lithium Americas (Argentina) to a "strong-buy" rating in a report on Monday, January 19th. Three analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus target price of C$13.38.

Lithium Americas (Argentina) Price Performance

The company has a market cap of C$2.29 billion, a PE ratio of -30.00 and a beta of 1.75. The business has a 50-day moving average of C$10.45 and a 200 day moving average of C$8.86.

Lithium Americas (Argentina) (TSE:LAR - Get Free Report) last posted its quarterly earnings data on Monday, March 23rd. The company reported C$0.01 EPS for the quarter.

About Lithium Americas (Argentina)

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (' TSX ') and the New York Stock Exchange (' NYSE ') under the ticker 'LAR'.

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