Lithium Americas (Argentina) (NYSE:LAR) Stock Price Down 4% – Time to Sell?

by · The Cerbat Gem

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR – Get Free Report) were down 4% during trading on Friday . The stock traded as low as $6.17 and last traded at $6.1550. 583,499 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 2,753,323 shares. The stock had previously closed at $6.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LAR shares. Stifel Nicolaus raised their price objective on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Scotiabank cut their price target on 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. Finally, Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. One equities research 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 company. According to MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and a consensus price target of $9.32.

Read Our Latest Analysis on LAR

Lithium Americas (Argentina) Stock Performance

The business’s fifty day moving average price is $6.65 and its two-hundred day moving average price is $7.86. The stock has a market capitalization of $988.53 million and a P/E ratio of -17.75.

Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period in the prior year, the firm posted ($0.03) earnings per share. As a group, analysts forecast that Lithium Americas will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd lifted its position in Lithium Americas (Argentina) by 234.5% in the second quarter. WINTON GROUP Ltd now owns 66,100 shares of the company’s stock worth $547,000 after buying an additional 46,339 shares during the last quarter. Engineers Gate Manager LP increased its position in 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 period. AXQ Capital LP bought a new position in Lithium Americas (Argentina) in the second quarter worth approximately $85,000. VectorGlobal IAG Inc. purchased a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth $100,000. Finally, Bank of America Corp DE lifted its position in shares of Lithium Americas (Argentina) by 45.4% during the first quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock valued at $4,475,000 after buying an additional 209,252 shares during the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

(Get Free Report)

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.

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