Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.
A number of other research analysts have also issued reports on the stock. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. TD Securities raised their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Finally, Scotiabank lifted their price objective on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.13.
View Our Latest Research Report on LAR
Lithium Americas (Argentina) Stock Down 0.5%
Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Sell-side analysts anticipate that Lithium Americas will post 0.28 earnings per share for the current year.
Hedge Funds Weigh In On Lithium Americas (Argentina)
Large investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in shares of Lithium Americas (Argentina) during the 4th quarter worth about $553,000. GF Fund Management CO. LTD. bought a new stake in shares of Lithium Americas (Argentina) in the fourth quarter valued at about $446,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at about $543,000. Walleye Capital LLC acquired a new stake in Lithium Americas (Argentina) during the first quarter worth about $695,000. Finally, ABN Amro Investment Solutions acquired a new stake in Lithium Americas (Argentina) during the first quarter worth about $6,335,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.
About Lithium Americas (Argentina)
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.
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