Lithium Americas (Argentina) (NYSE:LAR) Trading Down 4% - Should You Sell?

Key Points

• Lithium Americas (Argentina) shares fell about 4% intraday to roughly $6.16, with trading volume down 79% from its average; the stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $9.32, although ratings range from “Strong Buy” to “Sell.”
• The company reported quarterly EPS of $0.01, missing the $0.05 consensus estimate, while institutional investors own approximately 49.17% of its shares.

Lithium Americas (Argentina) Corp. (NYSE:LAR - Get Free Report)'s stock price dropped 4% during mid-day trading on Friday . The stock traded as low as $6.17 and last traded at $6.1550. 583,499 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,753,323 shares. The stock had previously closed at $6.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LAR shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Stifel Nicolaus boosted their target price on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, August 25th. Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a "sector outperform" rating on the stock in a research report on Wednesday, August 12th. Finally, Zacks Research upgraded shares of Lithium Americas (Argentina) from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $9.32.

Lithium Americas (Argentina) Trading Down 5.9%

The company has a market cap of $988.53 million and a P/E ratio of -17.75. The business's 50 day simple moving average is $6.65 and its 200 day simple moving average is $7.86.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.04). During the same period in the previous year, the firm earned ($0.03) EPS. Sell-side analysts anticipate that Lithium Americas will post 0.17 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada bought a new stake in Lithium Americas (Argentina) during the 1st quarter valued at approximately $572,000. Goldman Sachs Group Inc. purchased a new stake in Lithium Americas (Argentina) during the 1st quarter valued at approximately $1,064,000. Woodline Partners LP bought a new stake in shares of Lithium Americas (Argentina) during the first quarter valued at approximately $3,456,000. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) in the second quarter worth $37,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company's stock worth $112,000 after acquiring an additional 3,575 shares during the last quarter. Institutional investors own 49.17% of the company's stock.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.

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