Lithium Americas (Argentina) (NYSE:LAR) Shares Down 3.2% - What's Next?

Key Points

• Lithium Americas (Argentina) Corp. shares dropped by 3.2%, trading as low as $4.87, with a current price of $4.91 after closing at $5.07.
• Brokerages have mixed ratings on the stock, with an average rating of "Hold" and an average target price of $4.00, reflecting a cautious outlook.
• Institutional ownership stands at 49.17%, with notable stakeholders increasing their positions in the 2nd quarter, indicating continued interest in the company.

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report) traded down 3.2% during mid-day trading on Wednesday . The company traded as low as $4.87 and last traded at $4.91. 1,408,377 shares traded hands during trading, a decline of 0% from the average session volume of 1,413,611 shares. The stock had previously closed at $5.07.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LAR. Scotiabank restated a "sector perform" rating and issued a $3.50 price target (up from $3.00) on shares of Lithium Americas (Argentina) in a research report on Wednesday, August 13th. Cormark upgraded shares of Lithium Americas (Argentina) to a "moderate buy" rating in a research report on Wednesday, August 20th. BMO Capital Markets upped their price target on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a research report on Tuesday, August 12th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Lithium Americas (Argentina) in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $4.00.

Lithium Americas (Argentina) Stock Performance

The stock's 50 day moving average price is $3.31 and its 200 day moving average price is $2.55. The company has a market capitalization of $801.76 million and a P/E ratio of -44.91.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brown Advisory Inc. raised its stake in Lithium Americas (Argentina) by 3.0% during the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company's stock worth $216,000 after buying an additional 3,000 shares during the period. Raymond James Financial Inc. raised its stake in Lithium Americas (Argentina) by 14.1% during the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company's stock worth $54,000 after buying an additional 3,214 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Lithium Americas (Argentina) by 7.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company's stock worth $112,000 after buying an additional 3,575 shares during the period. Osaic Holdings Inc. raised its stake in Lithium Americas (Argentina) by 24.1% during the 2nd quarter. Osaic Holdings Inc. now owns 38,027 shares of the company's stock worth $79,000 after buying an additional 7,378 shares during the period. Finally, Stratos Wealth Advisors LLC acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth approximately $28,000. 49.17% of the stock is owned by institutional investors.

About Lithium Americas (Argentina)

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.