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ZUG, Switzerland - Lithium Argentina AG, previously known as Lithium Americas (NYSE:LAC) (Argentina) Corp., announced the completion of its corporate migration from Canada to Switzerland. The company, which is a producer of lithium carbonate primarily used in lithium-ion batteries and electric vehicles, will maintain its listings on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under a new ticker symbol "LAR." With a market capitalization of $441 million, InvestingPro analysis indicates the stock is currently trading below its Fair Value, presenting a potential opportunity for value investors.
The transition to the new symbol is expected to take effect on January 27, 2025. Lithium Argentina AG will continue to adhere to the reporting requirements mandated by Canadian and U.S. securities laws.
This move aligns with the company's operational focus, as its lithium brine operation in partnership with Ganfeng Lithium (HK:1772) Co. Ltd is located in Argentina. Lithium Argentina AG's registered and head offices are now situated in Zug, Switzerland, with its operational headquarters remaining in Buenos Aires, Argentina.
The company's forward-looking statements suggest plans for growth initiatives within the lithium industry and positioning for future success. However, these statements are subject to various risks and uncertainties, including potential adverse tax consequences and the risk that the anticipated benefits of the corporate migration may not materialize as expected.
Investors and stakeholders should note that forward-looking information is inherently uncertain and actual results may vary materially from what is projected. Lithium Argentina AG has cautioned that it does not intend to update any forward-looking statements unless required by law, emphasizing that actual outcomes could differ significantly from those anticipated.
This news development is based on a press release statement from Lithium Argentina AG.
In other recent news, Lithium Argentina's earnings and revenue results have been noteworthy. The company reported achieving 85% of its design capacity in the fourth quarter of 2024, with projections for 2025 to produce between 30 to 35 kilotonnes of Lithium Carbonate Equivalent (LCE). This aligns closely with Stifel's estimate of 32 kilotonnes LCE.
In addition, Stifel maintains a Buy rating and a $10 price target for Lithium Argentina, indicating confidence in the company's future performance. The firm's outlook is grounded in the company's recent performance and future projections.
Furthermore, the updated costing study underscored Cauchari's potential as a cost-effective lithium brine asset, reinforcing Stifel's thesis for Lithium Argentina. Despite the company's operational successes, Lithium Argentina's stock trades at 7.7 times its 2026 projected earnings before interest, taxes, depreciation, and amortization (EV/EBITDA), which is below the average of 9.3 times for similar companies.
These are among the recent developments for Lithium Argentina, which continues to show strong momentum despite certain financial challenges.
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