Scotiabank Cuts Lithium Americas (Argentina) (NYSE:LAR) Price Target to $10.00

Lithium Americas (Argentina) (NYSE:LARGet Free Report) had its target price reduced by stock analysts at Scotiabank from $11.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 81.00% from the company’s current price.

Several other brokerages have also recently weighed in on LAR. Zacks Research cut shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $7.99.

Check Out Our Latest Report on Lithium Americas (Argentina)

Lithium Americas (Argentina) Trading Down 6.0%

Shares of Lithium Americas (Argentina) stock traded down $0.35 during trading on Tuesday, hitting $5.53. 665,559 shares of the stock traded hands, compared to its average volume of 2,908,873. The firm has a market cap of $905.00 million and a P/E ratio of -14.54. Lithium Americas has a 52-week low of $2.52 and a 52-week high of $12.05. The stock’s fifty day simple moving average is $8.36 and its 200 day simple moving average is $8.06.

Lithium Americas (Argentina) (NYSE:LARGet Free Report) last released its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). As a group, equities analysts expect that Lithium Americas will post 0.28 EPS for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors have recently made changes to their positions in the business. Seldon Capital LP acquired a new position in shares of Lithium Americas (Argentina) during the third quarter valued at about $6,076,000. Millennium Management LLC boosted its stake in Lithium Americas (Argentina) by 441.1% in 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 purchased a new stake in Lithium Americas (Argentina) during the 1st quarter worth approximately $3,456,000. Balyasny Asset Management L.P. purchased a new stake in Lithium Americas (Argentina) during the 4th quarter worth approximately $5,423,000. Finally, ABN Amro Investment Solutions acquired a new position in Lithium Americas (Argentina) during the 1st quarter valued at approximately $6,335,000. Institutional investors and hedge funds 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.

Further Reading

Analyst Recommendations for Lithium Americas (Argentina) (NYSE:LAR)

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