Lithium Americas (Argentina) (NYSE:LAR) Stock Price Down 5.9% - Here's Why

Key Points

• Lithium Americas (Argentina) shares fell by 5.9% on Tuesday, trading as low as $4.95 before ending at $5.10, with trading volume up by 9% from average daily levels.
• Analyst ratings for Lithium Americas (Argentina) show a mixed outlook, with one firm upgrading the stock to a "moderate buy", while Weiss Ratings reaffirmed a "sell" rating.
• Institutional investors have recently increased their stakes in Lithium Americas, with Osaic Holdings Inc. lifting its position by 24.1% and Orion Resource Partners boosting its stake by 619%.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s share price was down 5.9% on Tuesday . The stock traded as low as $4.95 and last traded at $5.10. Approximately 1,645,974 shares traded hands during trading, an increase of 9% from the average daily volume of 1,516,468 shares. The stock had previously closed at $5.42.

Analyst Ratings Changes

LAR has been the subject of several research reports. Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a research note 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. National Bankshares upgraded Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $2.90 to $4.50 in a report on Tuesday, August 12th. National Bank Financial upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $4.00.

Lithium Americas (Argentina) Stock Performance

The company's 50-day moving average price is $3.49 and its 200 day moving average price is $2.62. The stock has a market capitalization of $860.19 million and a PE ratio of -48.18.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LAR. Osaic Holdings Inc. lifted its position in Lithium Americas (Argentina) by 24.1% during the second quarter. Osaic Holdings Inc. now owns 38,027 shares of the company's stock valued at $79,000 after buying an additional 7,378 shares during the period. Orion Resource Partners LP boosted its stake in Lithium Americas (Argentina) by 619.0% during the second quarter. Orion Resource Partners LP now owns 345,155 shares of the company's stock worth $718,000 after acquiring an additional 297,150 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in Lithium Americas (Argentina) by 164.3% in the second quarter. Balyasny Asset Management L.P. now owns 199,553 shares of the company's stock worth $415,000 after purchasing an additional 124,064 shares during the period. Bank of America Corp DE increased its stake in shares of Lithium Americas (Argentina) by 5.4% during the second quarter. Bank of America Corp DE now owns 395,652 shares of the company's stock valued at $823,000 after purchasing an additional 20,253 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Lithium Americas (Argentina) by 30.9% during the second quarter. Jane Street Group LLC now owns 373,603 shares of the company's stock valued at $777,000 after purchasing an additional 88,230 shares during the last quarter. 49.17% of the stock is owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Company Profile

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.

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