Lithium Americas (Argentina) (NYSE:LAR) Trading Down 7.5% – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price fell 7.5% during mid-day trading on Thursday . The company traded as low as $10.00 and last traded at $9.9960. 754,303 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,426,046 shares. The stock had previously closed at $10.81.

Analysts Set New Price Targets

LAR has been the subject of several recent research reports. Scotiabank boosted their price target on shares of Lithium Americas (Argentina) from $7.75 to $8.50 and gave the stock a “sector outperform” rating in a research note on Monday, April 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and raised their target price for the stock from $4.75 to $9.60 in a report on Monday, January 19th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and a consensus price target of $7.77.

Lithium Americas (Argentina) Stock Performance

The business’s fifty day moving average price is $8.10 and its two-hundred day moving average price is $6.78. The stock has a market capitalization of $1.61 billion and a P/E ratio of -26.09.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). As a group, analysts forecast that Lithium Americas will post 0.44 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several large investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in Lithium Americas (Argentina) by 7.0% during the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock worth $119,000 after acquiring an additional 1,162 shares during the last quarter. Cibc World Market Inc. raised its position in Lithium Americas (Argentina) by 2.3% in the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock worth $428,000 after purchasing an additional 2,940 shares during the period. Brown Advisory Inc. raised its position in Lithium Americas (Argentina) by 3.0% in the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after purchasing an additional 3,000 shares during the period. Raymond James Financial Inc. raised its position in Lithium Americas (Argentina) by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after purchasing an additional 3,214 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after purchasing an additional 3,552 shares during the period. 49.17% of the stock is owned by institutional investors.

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.