Lithium Americas (Argentina) (NYSE:LAR) Stock Dropped to “Sell” by Wall Street Zen

Wall Street Zen downgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. Scotiabank decreased 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. Finally, Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. One 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.32.

Lithium Americas (Argentina) Price Performance

Shares of LAR opened at $4.62 on Friday. The business’s fifty day moving average price is $6.06 and its 200 day moving average price is $7.58. Lithium Americas has a 12-month low of $3.62 and a 12-month high of $12.05. The stock has a market capitalization of $757.81 million and a PE ratio of -13.58.

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

Institutional Trading of Lithium Americas (Argentina)

Several hedge funds have recently made changes to their positions in LAR. AXQ Capital LP acquired a new position in Lithium Americas (Argentina) during the 2nd quarter valued at approximately $85,000. Modera Wealth Management LLC acquired a new stake in Lithium Americas (Argentina) in the first quarter worth $97,000. VectorGlobal IAG Inc. acquired a new stake in Lithium Americas (Argentina) in the first quarter worth $100,000. Cetera Investment Advisers lifted its stake in Lithium Americas (Argentina) by 7.0% in the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after buying an additional 1,162 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Lithium Americas (Argentina) by 62.4% in the first quarter. The Manufacturers Life Insurance Company now owns 61,933 shares of the company’s stock valued at $414,000 after buying an additional 23,787 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) Corp. is a lithium development and production company focused on properties in Argentina. Its principal asset is the Cauchari-Olaroz lithium project in Jujuy Province, a large-scale operation that produces lithium carbonate for use in electric vehicle batteries, energy-storage systems and other applications.

Cauchari-Olaroz is operated through Minera Exar, a joint venture involving Lithium Argentina, Ganfeng Lithium and the Jujuy provincial energy and mining company JEMSE.