Lithium Americas (Argentina) (NYSE:LAR) Rating Lowered to Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded Lithium Americas (Argentina) from “hold” to “sell.” Despite this, the broader analyst consensus remains “Moderate Buy,” with a $10.07 average price target.
• LAR shares opened at $4.25, well below their 50-day moving average of $5.81 and 200-day moving average of $7.49; the stock’s 52-week range is $3.62 to $12.05.
• The company reported quarterly EPS of $0.01, missing the $0.05 analyst consensus estimate, while institutional investors own approximately 49.17% of outstanding shares.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday, Wall Street Zen reports.

A number of other research analysts have also weighed in on the stock. Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a "sector outperform" rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lithium Americas (Argentina) in a research note on Tuesday, September 29th. Zacks Research raised Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a report on Thursday, August 13th. 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. Finally, National Bank Financial decreased their target price on 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.07.

Lithium Americas (Argentina) Price Performance

NYSE:LAR opened at $4.25 on Friday. The company has a 50-day moving average of $5.81 and a 200 day moving average of $7.49. Lithium Americas has a 1-year low of $3.62 and a 1-year high of $12.05. The firm has a market cap of $698.25 million and a PE ratio of -12.51.

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

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently added to or reduced their stakes in LAR. Weiss Asset Management LP purchased a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $756,000. Walleye Capital LLC acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at approximately $695,000. Bank of America Corp DE raised its position in Lithium Americas (Argentina) by 45.4% in the first quarter. Bank of America Corp DE now owns 669,931 shares of the company's stock valued at $4,475,000 after purchasing an additional 209,252 shares during the period. Robertson Stephens Wealth Management LLC raised its position in Lithium Americas (Argentina) by 1,042.6% in the third 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 during the period. Finally, Renaissance Technologies LLC purchased a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $5,328,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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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