Zacks Research cut shares of Lithium Americas (Argentina) (NYSE:LAR – Free Report) from a hold rating to a strong sell rating in a report released on Tuesday morning,Zacks reports.
Several other research firms have also recently weighed in on LAR. National Bank Financial lowered their price objective on shares of Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Stifel Nicolaus increased their target price on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Wall Street Zen cut Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research report on Sunday. Scotiabank decreased their target price on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and an average price target of $10.07.
Get Our Latest Report on Lithium Americas (Argentina)
Lithium Americas (Argentina) Price Performance
Shares of LAR opened at $4.54 on Tuesday. Lithium Americas has a one year low of $3.62 and a one year high of $12.05. The company has a 50-day moving average of $5.68 and a two-hundred day moving average of $7.34. The stock has a market cap of $745.83 million and a price-to-earnings ratio of -13.37.
Lithium Americas (Argentina) (NYSE:LAR – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter last year, the business posted ($0.03) EPS. Analysts anticipate that Lithium Americas will post 0.17 earnings per share for the current year.
Institutional Investors Weigh In On Lithium Americas (Argentina)
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXQ Capital LP acquired a new stake in Lithium Americas (Argentina) during the second quarter valued at $85,000. Modera Wealth Management LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at about $97,000. VectorGlobal IAG Inc. acquired a new stake in shares of Lithium Americas (Argentina) during the 1st quarter valued at about $100,000. Cetera Investment Advisers lifted its holdings in shares of Lithium Americas (Argentina) by 7.0% during the 1st quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after buying an additional 1,162 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Lithium Americas (Argentina) by 62.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 61,933 shares of the company’s stock valued at $414,000 after buying an additional 23,787 shares in the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.
Lithium Americas (Argentina) Company Profile
Lithium Americas (Argentina) Corp., formerly known as Lithium Americas (Argentina) Corp. and associated with the NYSE symbol LAR, is a lithium development and production company focused on projects in Argentina. Its principal asset is the Cauchari-Olaroz lithium brine project in Jujuy Province, a region recognized for its significant lithium resources.
Cauchari-Olaroz produces lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems, consumer electronics and other applications.
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