Why Macquarie Group Ltd has upgraded Orocobre Limited

Global advisory firm Macquarie Group Ltd (ASX: MQG) has upgraded mining exploration company Orocobre Limited (ASX: ORE) to outperform from neutral.

Orocobre focuses on the construction and operation of its portfolio of lithium, potash and boron projects and facilities in the Puna region of northern Argentina.

Macquarie has made the stock upgrade after the significant fall in share price out of Orocobre this calendar year, readjusting its target price to $6.80 from $7.15.

Orocobre shares were up 1.6% to $5.45 at the time of writing, but have fallen 26.7% from its 52-week high of $7.44.

Resource shares have pushed higher to start the post-Easter trading week as news of a trade war between the US and China simmers down.

Shares in BHP Billiton Limited (ASX: BHP) climbed higher today up 1.7% to $28.71 at the time of writing, with similar rises also noted for Rio Tinto Limited (ASX: RIO) which was up 1.5% to $73.80 at the time of writing and South32 Ltd (ASX: S32) – also on the rise at $3.23.

Don’t Buy A SINGLE Stock Until You Read This

While conflict overseas is all media talking-heads seem to mention these days, the billionaire founder of Tesla is losing sleep over what he sees as a far bigger threat.

Elon Musk Warns: This has “vastly more risk than North Korea”

If you missed your opportunity to get in on Google, Microsoft, or Amazon in their early days, don't let it happen again. This emerging technology trend could offer a second chance for anyone who wishes they took part in these millionaire-maker stocks.

Click here to discover more!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.