Lithium Americas (Argentina) (TSE:LAR) Sets New 52-Week High - Should You Buy?

Key Points

• Lithium Americas (Argentina) reached a new 52-week high, trading as high as C$13.25 and last at C$13.01 (previous close C$12.69), with the stock up about 5.5% and trading above its 50-day (C$10.13) and 200-day (C$8.67) moving averages; market cap is roughly C$2.17 billion.
• Multiple brokerages have upgraded the stock (Canaccord, Scotiabank, HSBC, TD Securities), leaving a consensus rating of Strong Buy and a consensus target price of C$13.38.
• Two insiders sold large holdings in January—Daniel Cherniak sold C$327,427 of shares (a 55.6% cut in his ownership) and Ignacio Celorrio sold C$510,080 (a 13.5% cut)—totaling about C$837,500 in insider sales.

Lithium Americas (Argentina) Corp. (TSE:LAR - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$13.25 and last traded at C$13.01, with a volume of 60063 shares changing hands. The stock had previously closed at C$12.69.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Canaccord Genuity Group increased 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. Scotiabank upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 12th. HSBC upgraded Lithium Americas (Argentina) to a "strong-buy" rating in a research report on Monday, January 19th. Finally, TD Securities upped their price objective on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, Lithium Americas (Argentina) has an average rating of "Strong Buy" and a consensus target price of C$13.38.

Lithium Americas (Argentina) Stock Up 5.5%

The business's 50-day simple moving average is C$10.13 and its two-hundred day simple moving average is C$8.67. The firm has a market cap of C$2.17 billion, a price-to-earnings ratio of -28.49 and a beta of 1.75.

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

Insider Buying and Selling

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

Lithium Americas (Argentina) Company Profile

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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