Lithium Americas (Argentina) (NYSE:LAR) Issues Earnings Results

Lithium Americas (Argentina) (NYSE:LAR) posted its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03, Zacks reports.

Lithium Americas (Argentina) Stock Performance

NYSE:LAR opened at $3.67 on Thursday. The firm’s fifty day moving average is $5.19 and its 200-day moving average is $7.15. Lithium Americas has a 52 week low of $3.64 and a 52 week high of $12.05. The firm has a market cap of $601.72 million and a P/E ratio of 26.18.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LAR. Zacks Research lowered shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. 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 price objective on Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. Finally, Stifel Nicolaus raised their target price on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.07.

About Lithium Americas (Argentina)

Lithium Argentina is a lithium-focused company with operations and development projects in Argentina. It was formed from the 2023 separation of Lithium Americas’ Argentine assets from its North American business and is listed on the New York Stock Exchange under the symbol LAR. The company’s principal producing asset is the Cauchari-Olaroz brine project in Jujuy Province, developed through a joint venture. The project produces lithium carbonate, a material used in batteries and other applications.