Lithium Americas (Argentina) (TSE:LAR) Reaches New 12-Month High - What's Next?

Key Points

• Lithium Americas (Argentina) has reached a new 12-month high, trading at C$7.49 before closing at C$7.31, with a significant trading volume of 898,292 shares.
• Analysts have mixed reviews on the stock, with Cormark upgrading its rating to "moderate buy" and National Bank Financial elevating it to "strong buy," while Scotiabank downgraded it to "hold."
• The company, valued at C$1.19 billion, is primarily focused on producing lithium carbonate for lithium-ion batteries and electric vehicles, in partnership with Ganfeng Lithium Co Ltd.

Lithium Americas (Argentina) Corp. (TSE:LAR - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as C$7.49 and last traded at C$7.31, with a volume of 898292 shares trading hands. The stock had previously closed at C$6.24.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LAR shares. Cormark upgraded shares of Lithium Americas (Argentina) to a "moderate buy" rating in a research report on Wednesday, August 20th. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Scotiabank downgraded shares of Lithium Americas (Argentina) from an "outperform" rating to a "hold" rating in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy".

Lithium Americas (Argentina) Stock Performance

The stock has a market capitalization of C$1.19 billion, a PE ratio of -66.45 and a beta of 1.79. The business's 50-day moving average is C$4.87 and its two-hundred day moving average is C$3.64.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.

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