Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down - Here's Why

Key Points

• Lithium Americas (Argentina) shares opened at $3.16, down from a previous close of $3.30, indicating a potential selling opportunity for investors.
• Wall Street analysts have shown optimism, with upgrades from various firms leading to a consensus price target of $4.00 and an average rating of "Moderate Buy".
• Institutional investors have been actively increasing their stakes, with notable increases from Osaic Holdings Inc. and Orion Resource Partners LP, indicating growing confidence in the company.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $3.30, but opened at $3.16. Lithium Americas (Argentina) shares last traded at $3.13, with a volume of 598,260 shares traded.

Analyst Upgrades and Downgrades

LAR has been the subject of several analyst reports. National Bank Financial upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. National Bankshares upgraded Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $2.90 to $4.50 in a report on Tuesday, August 12th. Scotiabank reiterated a "sector perform" rating and issued a $3.50 price target (up from $3.00) on shares of Lithium Americas (Argentina) in a report on Wednesday, August 13th. BMO Capital Markets boosted their price target on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a report on Tuesday, August 12th. Finally, Cormark upgraded Lithium Americas (Argentina) to a "moderate buy" rating in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.

Lithium Americas (Argentina) Trading Down 3.2%

The business has a fifty day moving average price of $2.99 and a 200 day moving average price of $2.39.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently made changes to their positions in LAR. Stratos Wealth Advisors LLC acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth $28,000. Sandhill Capital Partners LLC purchased a new stake in Lithium Americas (Argentina) during the 1st quarter worth $29,000. JPMorgan Chase & Co. purchased a new stake in Lithium Americas (Argentina) during the 2nd quarter worth $37,000. HighTower Advisors LLC purchased a new stake in Lithium Americas (Argentina) during the 1st quarter worth $40,000. Finally, Diversify Advisory Services LLC purchased a new stake in Lithium Americas (Argentina) during the 2nd quarter worth $40,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.