Lithium Americas (Argentina) (TSE:LAR) Stock Price Down 3.5% - Time to Sell?

Key Points

• Lithium Americas (Argentina) shares fell by 3.5% on Friday, trading between C$4.12 and C$4.17, with a 14% decrease in trading volume compared to its average.
• Analysts have mixed ratings on the stock; while National Bank Financial upgraded it to a "strong-buy," Scotiabank downgraded it to "hold," resulting in an average rating of "Buy."
• The company holds a market cap of C$676.79 million and focuses on producing lithium carbonate primarily for lithium-ion batteries and electric vehicles.

Lithium Americas (Argentina) Corp. (TSE:LAR - Get Free Report) shares were down 3.5% during mid-day trading on Friday . The stock traded as low as C$4.12 and last traded at C$4.17. Approximately 134,857 shares were traded during trading, a decline of 14% from the average daily volume of 156,621 shares. The stock had previously closed at C$4.32.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on LAR shares. Cormark raised Lithium Americas (Argentina) to a "moderate buy" rating in a report on Wednesday, August 20th. National Bank Financial upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, Scotiabank lowered Lithium Americas (Argentina) from an "outperform" rating to a "hold" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy".

Lithium Americas (Argentina) Stock Up 2.0%

The business has a 50 day simple moving average of C$4.23 and a two-hundred day simple moving average of C$3.35. The firm has a market cap of C$735.22 million, a PE ratio of -41.18 and a beta of 1.70.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.