Lithium Americas (Argentina) (NYSE:LAR) Stock Rating Cut to "Strong Sell" at Zacks Research

Key Points

• Zacks Research downgraded Lithium Americas (Argentina) to “strong sell” from “hold,” adding to mixed analyst views. MarketBeat’s consensus remains “Moderate Buy,” with an average price target of $10.07.
• LAR shares opened at $4.54, down 0.8%, and remain well below their 52-week high of $12.05. The company also missed its latest quarterly EPS estimate, reporting $0.01 versus the expected $0.05.
• Institutional investors and hedge funds own approximately 49.17% of the stock, with several firms recently initiating or increasing positions.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) was downgraded by analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday, Zacks reports.

LAR has been the subject of several other reports. National Bank Financial dropped their target price on Lithium Americas (Argentina) from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Monday, October 19th. Weiss Ratings reissued a "sell (d-)" rating on shares of Lithium Americas (Argentina) in a research note on Tuesday, September 29th. Wall Street Zen cut Lithium Americas (Argentina) from a "hold" rating to a "sell" rating in a report on Sunday. Stifel Nicolaus raised their target price on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, August 25th. Finally, Scotiabank lowered their target price on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a "sector outperform" rating for the company in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.07.

Lithium Americas (Argentina) Stock Down 0.8%

Shares of Lithium Americas (Argentina) stock opened at $4.54 on Tuesday. Lithium Americas has a fifty-two week low of $3.62 and a fifty-two week high of $12.05. The firm has a market cap of $745.83 million and a PE ratio of -13.37. The business's fifty day moving average is $5.68 and its two-hundred day moving average is $7.34.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ABN Amro Investment Solutions purchased a new position in Lithium Americas (Argentina) in the first quarter valued at about $6,335,000. Renaissance Technologies LLC acquired a new position in shares of Lithium Americas (Argentina) during the first quarter worth about $5,328,000. Bank of America Corp DE boosted its position in shares of 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 worth $4,475,000 after buying an additional 209,252 shares during the period. Robertson Stephens Wealth Management LLC boosted its position in shares of 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 worth $878,000 after buying an additional 145,606 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Lithium Americas (Argentina) in the first quarter worth about $756,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

About Lithium Americas (Argentina)

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.

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.