Lithium Americas (Argentina) (TSE:LAR) Sets New 12-Month High - Here's What Happened

Key Points

• 52-week high: Lithium Americas (Argentina) (TSE:LAR) hit a new 52-week high of C$12.15 on Thursday, trading 82,383 shares after a prior close of C$11.37.
• Analyst upgrades: Multiple firms (TD, Canaccord, HSBC, Scotiabank) raised ratings or targets, leaving the consensus as a Strong Buy with an average target price of C$13.38.
• Insider selling: Two insiders sold shares in late January—Ignacio Celorrio sold 50,453 shares (13.47% reduction) and Daniel Cherniak sold 30,977 shares (55.58% reduction), totaling roughly C$837,507 in proceeds.

Lithium Americas (Argentina) Corp. (TSE:LAR - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as C$12.15 and last traded at C$12.15, with a volume of 82383 shares changing hands. The stock had previously closed at C$11.37.

Analyst Ratings Changes

LAR has been the subject of a number of research analyst reports. TD Securities raised their price objective on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a "buy" rating in a research report on Tuesday, March 24th. Canaccord Genuity Group lifted their price target on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. HSBC upgraded Lithium Americas (Argentina) to a "strong-buy" rating in a research report on Monday, January 19th. Finally, Scotiabank upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 12th. Three investment analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Strong Buy" and an average target price of C$13.38.

Lithium Americas (Argentina) Price Performance

The company has a market cap of C$1.97 billion, a PE ratio of -25.77 and a beta of 1.75. The company has a 50-day moving average of C$9.69 and a 200 day moving average of C$8.32.

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

Insider Activity at Lithium Americas (Argentina)

In other Lithium Americas (Argentina) news, insider Ignacio Celorrio sold 50,453 shares of the business's stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the transaction, the insider owned 324,110 shares in the company, valued at C$3,276,752.10. The trade was a 13.47% decrease in their ownership of the stock. Also, insider Daniel Cherniak sold 30,977 shares of the business's stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total value of C$327,426.89. Following the transaction, the insider owned 24,754 shares of the company's stock, valued at C$261,649.78. This trade represents a 55.58% decrease in their position.

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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