Lithium Americas (Argentina) (NYSE:LAR) Stock Price Down 6.2% - What's Next?

Key Points

• Lithium Americas (Argentina) saw its stock price drop by 6.2% to $3.31, with trading volume significantly declining to 543,637 shares compared to the average of 1,152,757 shares.
• Multiple analysts have recently upgraded their ratings and price targets for Lithium Americas (Argentina), with BMO Capital Markets raising the target from $2.50 to $4.00 and National Bankshares increasing theirs from $2.90 to $4.50.
• Institutional investors now hold 49.17% of the company’s stock, with several hedge funds making substantial new investments in the first quarter.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s stock price dropped 6.2% on Monday . The stock traded as low as $3.28 and last traded at $3.31. Approximately 543,637 shares were traded during trading, a decline of 53% from the average daily volume of 1,152,757 shares. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LAR. BMO Capital Markets lifted 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 increased their target price for the stock from $2.90 to $4.50 in a research note on Tuesday, August 12th. Scotiabank reissued a "sector perform" rating and issued a $3.50 price objective (up from $3.00) on shares of Lithium Americas (Argentina) in a research note on Wednesday, August 13th. Cormark upgraded Lithium Americas (Argentina) to a "moderate buy" rating in a research note on Wednesday, August 20th. Finally, National Bank Financial upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. One 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $4.00.

Lithium Americas (Argentina) Trading Down 4.8%

The company has a market cap of $545.33 million and a price-to-earnings ratio of -30.55. The company's 50 day moving average price is $2.91 and its 200 day moving average price is $2.36.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Lithium Americas (Argentina) during the first quarter worth about $9,308,000. Hancock Prospecting Pty Ltd bought a new stake in shares of Lithium Americas (Argentina) in the first quarter worth $5,368,000. CenterBook Partners LP acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $4,613,000. Woodline Partners LP acquired a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $3,456,000. Finally, Invesco Ltd. acquired a new position in Lithium Americas (Argentina) during the first quarter worth about $3,307,000. Institutional investors and hedge funds own 49.17% of the company's stock.

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.

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