Lithium Americas (Argentina) (NYSE:LAR) Announces Quarterly Earnings Results

Lithium Americas (Argentina) (NYSE:LARGet Free Report) posted its earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07), Zacks reports.

Lithium Americas (Argentina) Stock Down 6.5%

Shares of LAR traded down $0.77 during trading hours on Tuesday, hitting $11.02. The company had a trading volume of 2,124,119 shares, compared to its average volume of 3,426,079. The business has a fifty day moving average of $7.98 and a 200-day moving average of $6.68. The firm has a market cap of $1.79 billion and a price-to-earnings ratio of -23.48. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $12.05.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LAR shares. Wall Street Zen raised shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price target for the company in a research note on Tuesday, January 13th. TD Securities lifted their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. 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. Finally, HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and upped their target price for the stock from $4.75 to $9.60 in a report on Monday, January 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.77.

Check Out Our Latest Report on LAR

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Seldon Capital LP acquired a new stake in shares of Lithium Americas (Argentina) during the third quarter worth $6,076,000. Millennium Management LLC grew its position in shares of Lithium Americas (Argentina) by 441.1% during the 4th quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after purchasing an additional 1,793,994 shares in the last quarter. Woodline Partners LP bought a new position in shares of Lithium Americas (Argentina) during the first quarter worth approximately $3,456,000. Balyasny Asset Management L.P. bought a new position in shares of Lithium Americas (Argentina) during the fourth quarter worth approximately $5,423,000. Finally, Van ECK Associates Corp raised its position in shares of Lithium Americas (Argentina) by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock valued at $57,202,000 after buying an additional 657,087 shares in the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

(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.

See Also

Receive News & Ratings for Lithium Americas (Argentina) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lithium Americas (Argentina) and related companies with MarketBeat.com's FREE daily email newsletter.