Lithium Americas (Argentina) (NYSE:LAR) Releases Quarterly Earnings Results, Misses Estimates By $0.07 EPS

Lithium Americas (Argentina) (NYSE:LAR) released its earnings results on Tuesday. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07), Zacks reports.

Lithium Americas (Argentina) Stock Performance

LAR stock traded down $0.93 during mid-day trading on Thursday, reaching $9.89. 2,563,194 shares of the stock traded hands, compared to its average volume of 3,445,294. Lithium Americas has a one year low of $1.71 and a one year high of $12.05. The stock has a market capitalization of $1.60 billion and a PE ratio of -26.04. The business has a 50-day moving average price of $8.10 and a two-hundred day moving average price of $6.78.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of Lithium Americas (Argentina) from $7.75 to $8.50 and gave the stock a “sector outperform” rating in a research report on Monday, April 6th. TD Securities boosted their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday, March 23rd. Finally, Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and a consensus target price of $7.77.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LAR. Royal Bank of Canada bought a new position in Lithium Americas (Argentina) during the first quarter valued at $572,000. Goldman Sachs Group Inc. bought a new position in Lithium Americas (Argentina) during the first quarter valued at $1,064,000. Woodline Partners LP bought a new position in Lithium Americas (Argentina) during the first quarter valued at $3,456,000. JPMorgan Chase & Co. bought a new position in Lithium Americas (Argentina) during the second quarter valued at $37,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

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.