Lithium Americas (Argentina) Corp. $LAR Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in Lithium Americas (Argentina) Corp. (NYSE:LAR) by 91.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,336 shares of the company’s stock after selling 107,508 shares during the quarter. Royal Bank of Canada’s holdings in Lithium Americas (Argentina) were worth $69,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of Lithium Americas (Argentina) by 62.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 61,933 shares of the company’s stock worth $414,000 after buying an additional 23,787 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $756,000. Renaissance Technologies LLC purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $5,328,000. Walleye Capital LLC acquired a new position in Lithium Americas (Argentina) during the first quarter worth $695,000. Finally, Cetera Investment Advisers grew its holdings 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 period. Institutional investors and hedge funds own 49.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Stifel Nicolaus upped their price target on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, August 25th. Finally, Scotiabank cut their price target on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average target price of $9.32.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAR opened at $6.62 on Wednesday. The business’s 50 day simple moving average is $6.83 and its 200-day simple moving average is $7.87. Lithium Americas has a 12 month low of $2.97 and a 12 month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same quarter in the previous year, the firm earned ($0.03) earnings per share. Equities research analysts anticipate that Lithium Americas will post 0.17 EPS for the current fiscal year.

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.