Lithium Americas (Argentina) (NYSE:LAR – Get 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%
Lithium Americas (Argentina) (NYSE:LAR – Get 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
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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