Lithium Americas (Argentina) (NYSE:LAR) Rating Lowered to Strong Sell at Zacks Research

Lithium Americas (Argentina) (NYSE:LAR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday, Zacks reports.

LAR has been the subject of a number of other research reports. Wall Street Zen downgraded Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Tuesday, September 29th. Scotiabank reduced their price objective on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 12th. National Bank Financial decreased their target price on shares of Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Finally, Stifel Nicolaus raised their target price on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.07.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAR opened at $4.54 on Tuesday. The stock has a market capitalization of $745.83 million and a PE ratio of -13.37. The business has a fifty day moving average price of $5.68 and a two-hundred day moving average price of $7.34. Lithium Americas has a fifty-two week low of $3.62 and a fifty-two week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last released its earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, equities analysts expect that Lithium Americas will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently modified their holdings of LAR. Robertson Stephens Wealth Management LLC raised its stake in Lithium Americas (Argentina) by 1,042.6% during the third quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock worth $878,000 after acquiring an additional 145,606 shares in the last quarter. WINTON GROUP Ltd grew its holdings in shares of Lithium Americas (Argentina) by 234.5% during the 2nd quarter. WINTON GROUP Ltd now owns 66,100 shares of the company’s stock valued at $547,000 after purchasing an additional 46,339 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of Lithium Americas (Argentina) by 44.0% during the 2nd quarter. Engineers Gate Manager LP now owns 101,063 shares of the company’s stock valued at $836,000 after purchasing an additional 30,895 shares during the last quarter. AXQ Capital LP bought a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter valued at approximately $85,000. Finally, VectorGlobal IAG Inc. bought a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at approximately $100,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp., formerly known as Lithium Americas (Argentina) Corp. and associated with the NYSE symbol LAR, is a lithium development and production company focused on projects in Argentina. Its principal asset is the Cauchari-Olaroz lithium brine project in Jujuy Province, a region recognized for its significant lithium resources.

Cauchari-Olaroz produces lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems, consumer electronics and other applications.