Stock Traders Purchase High Volume of Lithium Americas (Argentina) Call Options (NYSE:LAR)

Key Points

• Stock traders significantly increased their activity in Lithium Americas (Argentina), purchasing 3,839 call options, a surge of approximately 535% compared to the average volume.
• A variety of institutional investors have made notable investments, with MIRAE ASSET GLOBAL increasing its stake by 9.3%, and several new positions established during the first quarter.
• Analysts have recently upgraded their ratings for the stock, with National Bankshares raising its price target from $2.90 to $4.50 and issuing an "outperform" rating.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 3,839 call options on the stock. This represents an increase of approximately 535% compared to the average volume of 605 call options.

Institutional Trading of Lithium Americas (Argentina)

A number of large investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Lithium Americas (Argentina) by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company's stock valued at $9,975,000 after purchasing an additional 408,065 shares during the period. Hancock Prospecting Pty Ltd purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at $5,368,000. Invesco Ltd. boosted its stake in shares of Lithium Americas (Argentina) by 42.3% during the second quarter. Invesco Ltd. now owns 2,198,736 shares of the company's stock valued at $4,573,000 after purchasing an additional 653,351 shares during the period. CenterBook Partners LP purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at $4,613,000. Finally, Woodline Partners LP purchased a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at $3,456,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. National Bankshares upgraded shares of Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $2.90 to $4.50 in a research report on Tuesday, August 12th. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 11th. Cormark upgraded shares of Lithium Americas (Argentina) to a "moderate buy" rating in a research report on Wednesday, August 20th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Scotiabank restated a "sector perform" rating and issued a $3.50 price target (up previously from $3.00) on shares of Lithium Americas (Argentina) in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.00.

Lithium Americas (Argentina) Stock Performance

NYSE LAR traded up $0.32 during trading on Monday, hitting $4.45. The stock had a trading volume of 2,843,078 shares, compared to its average volume of 1,332,704. The stock has a market capitalization of $722.24 million and a price-to-earnings ratio of -40.45. Lithium Americas has a one year low of $1.71 and a one year high of $4.67. The stock has a 50 day simple moving average of $3.23 and a 200 day simple moving average of $2.52.

About Lithium Americas (Argentina)

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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