Lithium Americas (Argentina) (NYSE:LAR) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Lithium Americas (Argentina) (NYSE:LAR) issued its earnings results on Monday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01), Zacks reports.

Lithium Americas (Argentina) Stock Performance

Shares of LAR stock traded up $0.14 on Monday, reaching $4.03. 1,151,205 shares of the company were exchanged, compared to its average volume of 1,694,041. The company has a market cap of $654.07 million and a price-to-earnings ratio of -36.64. The business has a 50-day moving average price of $3.87 and a 200 day moving average price of $2.92. Lithium Americas has a 1 year low of $1.71 and a 1 year high of $5.47.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. National Bankshares raised Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. BMO Capital Markets raised their target price on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a “market perform” rating in a report on Tuesday, August 12th. Scotiabank reissued a “sector perform” rating and issued a $3.50 price target (up from $3.00) on shares of Lithium Americas (Argentina) in a report on Wednesday, August 13th. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) has an average rating of “Hold” and an average price target of $4.00.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. lifted its position in shares of Lithium Americas (Argentina) by 3.0% in the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock valued at $216,000 after acquiring an additional 3,000 shares in the last quarter. Raymond James Financial Inc. raised its stake in Lithium Americas (Argentina) by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after purchasing an additional 3,214 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of Lithium Americas (Argentina) by 24.1% in the second quarter. Osaic Holdings Inc. now owns 38,027 shares of the company’s stock worth $79,000 after buying an additional 7,378 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Lithium Americas (Argentina) by 58.0% during the third quarter. JPMorgan Chase & Co. now owns 27,728 shares of the company’s stock worth $93,000 after buying an additional 10,176 shares during the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.