Lithium Americas (Argentina) (NYSE:LAR) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Lithium Americas (Argentina) (NYSE:LAR) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Scotiabank upped their price objective 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. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Monday, March 23rd. Finally, TD Securities upped their price objective 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas (Argentina) presently has a consensus rating of “Moderate Buy” and an average price target of $8.13.

Lithium Americas (Argentina) Stock Down 5.3%

Shares of LAR stock opened at $8.08 on Tuesday. The firm’s 50-day moving average is $9.27 and its two-hundred day moving average is $7.52. Lithium Americas has a 12 month low of $1.90 and a 12 month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last issued its earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, equities analysts predict that Lithium Americas will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Large investors have recently modified their holdings of the company. TD Waterhouse Canada Inc. increased its position in shares of Lithium Americas (Argentina) by 538.8% in the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after purchasing an additional 5,900 shares during the last quarter. Insigneo Advisory Services LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter valued at approximately $34,000. BNP Paribas Financial Markets increased its position 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 valued at $38,000 after purchasing an additional 3,552 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Lithium Americas (Argentina) by 250.0% in the 4th quarter. Fifth Third Bancorp now owns 14,000 shares of the company’s stock valued at $78,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Modera Wealth Management LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at approximately $97,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

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.