Lithium Americas (Argentina) (NYSE:LAR) Given New $11.00 Price Target at National Bank Financial

Key Points

• National Bank Financial lowered Lithium Americas (Argentina)’s price target from $13 to $11 while maintaining an “outperform” rating, implying 141.49% upside from the prior close.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average target of $10.07, despite ratings ranging from Strong Buy to Sell.
• Shares fell 1.6% to $4.55, well below their 52-week high of $12.05. The company also missed quarterly earnings expectations, reporting $0.01 per share versus the $0.05 consensus estimate.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) had its price target decreased by analysts at National Bank Financial from $13.00 to $11.00 in a research report issued to clients and investors on Monday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's target price would suggest a potential upside of 141.49% from the stock's previous close.

A number of other research firms also recently issued reports on LAR. Stifel Nicolaus boosted their price objective on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. Scotiabank lowered their target price on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a "sector outperform" rating on the stock in a report on Wednesday, August 12th. Wall Street Zen downgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lithium Americas (Argentina) in a research note on Tuesday, September 29th. Finally, Zacks Research raised Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $10.07.

Lithium Americas (Argentina) Stock Down 1.6%

Shares of Lithium Americas (Argentina) stock traded down $0.07 during trading on Monday, reaching $4.55. The company's stock had a trading volume of 552,179 shares, compared to its average volume of 2,597,915. The business's 50-day moving average price is $6.06 and its 200-day moving average price is $7.59. The firm has a market cap of $747.48 million and a PE ratio of -13.43. Lithium Americas has a 52 week low of $3.62 and a 52 week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same quarter last year, the business posted ($0.03) EPS. Equities analysts predict that Lithium Americas will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently bought and sold shares of LAR. ABN Amro Investment Solutions acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $6,335,000. Renaissance Technologies LLC bought a new stake in Lithium Americas (Argentina) during the first quarter worth $5,328,000. Bank of America Corp DE lifted its stake in Lithium Americas (Argentina) by 45.4% during the first quarter. Bank of America Corp DE now owns 669,931 shares of the company's stock worth $4,475,000 after purchasing an additional 209,252 shares during the last quarter. Robertson Stephens Wealth Management LLC boosted its holdings in shares of Lithium Americas (Argentina) by 1,042.6% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company's stock valued at $878,000 after purchasing an additional 145,606 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at $756,000. 49.17% of the stock is owned by institutional investors.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) Corp. is a lithium development and production company focused on properties in Argentina. Its principal asset is the Cauchari-Olaroz lithium project in Jujuy Province, a large-scale operation that produces lithium carbonate for use in electric vehicle batteries, energy-storage systems and other applications.

Cauchari-Olaroz is operated through Minera Exar, a joint venture involving Lithium Argentina, Ganfeng Lithium and the Jujuy provincial energy and mining company JEMSE.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.