Lithium Argentina AG (NYSE:LAR - Get Free Report)'s share price dropped 0.8% on Tuesday . The company traded as low as $1.93 and last traded at $1.97. Approximately 564,999 shares changed hands during trading, a decline of 40% from the average daily volume of 940,207 shares. The stock had previously closed at $1.98.
Analyst Upgrades and Downgrades
LAR has been the topic of a number of research analyst reports. Scotiabank reduced their price target on Lithium Argentina from $3.50 to $3.00 and set a "sector outperform" rating on the stock in a report on Tuesday, May 20th. National Bankshares cut their target price on shares of Lithium Argentina from $3.75 to $3.50 and set a "sector perform" rating on the stock in a research note on Wednesday, March 19th.
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Lithium Argentina Stock Performance
The stock has a market cap of $327.04 million, a P/E ratio of 0.26 and a beta of 1.36. The company's 50 day moving average is $1.98.
Lithium Argentina (NYSE:LAR - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). As a group, research analysts predict that Lithium Argentina AG will post -0.05 earnings per share for the current fiscal year.
Institutional Trading of Lithium Argentina
Several hedge funds and other institutional investors have recently made changes to their positions in LAR. Sandhill Capital Partners LLC purchased a new position in shares of Lithium Argentina in the 1st quarter worth about $29,000. HighTower Advisors LLC purchased a new position in Lithium Argentina in the 1st quarter worth about $40,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Lithium Argentina in the first quarter worth approximately $41,000. McCarthy Asset Management Inc. purchased a new stake in Lithium Argentina in the first quarter worth approximately $42,000. Finally, Banco Santander S.A. bought a new position in shares of Lithium Argentina during the 1st quarter valued at $46,000. Hedge funds and other institutional investors own 49.17% of the company's stock.
Lithium Argentina Company Profile
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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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