Lithium Americas (Argentina) (NYSE:LAR) Stock Price Down 12.8% – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price dropped 12.8% on Tuesday . The stock traded as low as $6.88 and last traded at $7.00. Approximately 2,107,152 shares traded hands during trading, a decline of 38% from the average daily volume of 3,406,245 shares. The stock had previously closed at $8.03.

Analyst Ratings Changes

Several research firms have commented on LAR. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a research report on Tuesday, January 13th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $4.25 to $7.75 in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. TD Securities upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, February 9th. Finally, Stifel Nicolaus raised their price objective on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Trading Down 13.4%

The company’s 50 day moving average is $7.12 and its 200-day moving average is $5.22. The firm has a market capitalization of $1.13 billion and a price-to-earnings ratio of -13.90.

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently modified their holdings of LAR. Empowered Funds LLC bought a new position in Lithium Americas (Argentina) in the 4th quarter valued at about $138,000. XTX Topco Ltd boosted its holdings in shares of Lithium Americas (Argentina) by 33.3% during the fourth quarter. XTX Topco Ltd now owns 88,086 shares of the company’s stock worth $492,000 after acquiring an additional 22,027 shares during the period. Tudor Investment Corp ET AL acquired a new position in shares of Lithium Americas (Argentina) in the fourth quarter valued at approximately $304,000. Quadrature Capital Ltd bought a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth approximately $747,000. Finally, Old West Investment Management LLC acquired a new stake in Lithium Americas (Argentina) during the 4th quarter worth approximately $185,000. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.