Lithium Americas (Argentina) (NYSE:LAR) Trading Down 6% – Time to Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s share price traded down 6% on Wednesday . The company traded as low as $8.07 and last traded at $8.0180. 425,479 shares were traded during trading, a decline of 87% from the average session volume of 3,238,257 shares. The stock had previously closed at $8.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. TD Securities increased their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Wall Street Zen raised shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Scotiabank increased their price target on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. Finally, Zacks Research raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $8.13.

Lithium Americas (Argentina) Stock Performance

The firm has a market cap of $1.33 billion and a PE ratio of -21.61. The company’s 50-day simple moving average is $9.24 and its two-hundred day simple moving average is $7.50.

Lithium Americas (Argentina) (NYSE:LAR) last posted its earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, analysts expect that Lithium Americas will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently modified their holdings of LAR. Royal Bank of Canada purchased a new position in Lithium Americas (Argentina) during the 1st quarter valued at about $572,000. Goldman Sachs Group Inc. bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $1,064,000. Woodline Partners LP bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $3,456,000. JPMorgan Chase & Co. bought a new position in shares of Lithium Americas (Argentina) during the second quarter valued at approximately $37,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares in the last quarter. 49.17% of the stock is owned by hedge funds and other 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.