Lithium Americas (Argentina) (NYSE:LAR) Releases Earnings Results, Misses Expectations By $0.04 EPS

Lithium Americas (Argentina) (NYSE:LAR) posted its earnings results on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04), FiscalAI reports. During the same period in the prior year, the company earned ($0.03) earnings per share.

Lithium Americas (Argentina) Stock Performance

Shares of LAR opened at $6.63 on Wednesday. The company has a 50-day simple moving average of $7.58 and a two-hundred day simple moving average of $7.94. Lithium Americas has a one year low of $2.97 and a one year high of $12.05.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in Lithium Americas (Argentina) in the second quarter worth $37,000. BNP Paribas Financial Markets increased its stake in shares of 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 acquiring an additional 3,552 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after acquiring an additional 5,900 shares during the period. Diversify Advisory Services LLC bought a new stake in Lithium Americas (Argentina) during the second quarter worth about $40,000. Finally, Raymond James Financial Inc. boosted its stake in Lithium Americas (Argentina) by 14.1% during the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after acquiring an additional 3,214 shares in the last quarter. Institutional investors own 49.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on LAR. Zacks Research cut Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Finally, Scotiabank decreased their target price on Lithium Americas (Argentina) from $11.00 to $10.00 and set a “sector outperform” rating for the company in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.65.

About Lithium Americas (Argentina)

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.