Lithium Americas (Argentina) (TSE:LAR) Shares Down 6.9% - Here's Why

Key Points

• Shares of Lithium Americas (Argentina) traded down 6.9% to C$9.91 on Thursday, with 176,428 shares changing hands—about a 46% decline from average session volume.
• Analyst sentiment is strongly positive with a consensus "Strong Buy" rating and an average price target of C$13.38, after recent upgrades and target increases from HSBC, Scotiabank, Canaccord and TD.
• Significant insider selling occurred in late January: Ignacio Celorrio sold 50,453 shares at C$10.11 and Daniel Cherniak sold 30,977 shares at C$10.57, materially reducing their holdings.

Shares of Lithium Americas (Argentina) Corp. (TSE:LAR - Get Free Report) traded down 6.9% on Thursday . The stock traded as low as C$9.91 and last traded at C$9.91. 176,428 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 324,614 shares. The stock had previously closed at C$10.65.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HSBC raised Lithium Americas (Argentina) to a "strong-buy" rating in a research report on Monday, January 19th. Scotiabank raised Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, January 12th. Canaccord Genuity Group increased their price objective on Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the company a "buy" rating in a report on Tuesday, March 24th. Finally, TD Securities increased their price objective on Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. Three analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, Lithium Americas (Argentina) has a consensus rating of "Strong Buy" and an average target price of C$13.38.

Lithium Americas (Argentina) Trading Down 8.4%

The firm has a market cap of C$1.59 billion, a price-to-earnings ratio of -20.77 and a beta of 1.75. The stock has a fifty day moving average price of C$9.57 and a 200 day moving average price of C$8.11.

Lithium Americas (Argentina) (TSE:LAR - Get Free Report) last issued its quarterly earnings data on Monday, March 23rd. The company reported C$0.01 EPS for the quarter.

Insider Activity at Lithium Americas (Argentina)

In related news, insider Ignacio Celorrio sold 50,453 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the sale, the insider owned 324,110 shares in the company, valued at C$3,276,752.10. This represents a 13.47% decrease in their position. Also, insider Daniel Cherniak sold 30,977 shares of the stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total value of C$327,426.89. Following the sale, the insider owned 24,754 shares of the company's stock, valued at approximately C$261,649.78. The trade was a 55.58% decrease in their position.

About Lithium Americas (Argentina)

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (' TSX ') and the New York Stock Exchange (' NYSE ') under the ticker 'LAR'.

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