Lithium Americas (Argentina) (NYSE:LAR) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Lithium Americas (Argentina) from “hold” to “sell,” although broader analyst sentiment remains a “Moderate Buy” with a consensus price target of $9.32.
• The stock opened at $4.62, down 3.2%, and is trading well below its 50-day and 200-day moving averages of $6.06 and $7.58, respectively.
• The company reported quarterly EPS of $0.01, missing the $0.05 consensus estimate, while institutional investors and hedge funds own approximately 49.17% of its 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 note issued on Saturday, Wall Street Zen reports.

Several other research analysts have also issued reports on the stock. Zacks Research upgraded shares of Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 13th. Stifel Nicolaus increased their price objective on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas (Argentina) in a research note on Tuesday, September 29th. Finally, Scotiabank decreased their target price on 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. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $9.32.

Lithium Americas (Argentina) Trading Down 3.2%

NYSE:LAR opened at $4.62 on Friday. The company has a 50-day moving average of $6.06 and a 200-day moving average of $7.58. The firm has a market cap of $757.81 million and a price-to-earnings ratio of -13.58. Lithium Americas has a twelve month low of $3.62 and a twelve month high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last released 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 period last year, the company posted ($0.03) EPS. On average, research analysts forecast 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 institutional investors have recently modified their holdings of the stock. ABN Amro Investment Solutions acquired a new position in Lithium Americas (Argentina) in the first quarter worth approximately $6,335,000. Renaissance Technologies LLC bought a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $5,328,000. Bank of America Corp DE raised its position 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 valued at $4,475,000 after acquiring an additional 209,252 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $756,000. Finally, Walleye Capital LLC acquired a new stake in Lithium Americas (Argentina) in the first quarter valued at approximately $695,000. Institutional investors and hedge funds own 49.17% of the company's stock.

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.

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