Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.09, but opened at $7.54. Lithium Americas (Argentina) shares last traded at $7.84, with a volume of 511,280 shares changing hands.

Analyst Ratings Changes

Several research analysts have commented on LAR shares. Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a report on Tuesday, January 13th. TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, February 9th. National Bank Financial boosted their target price on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Finally, Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $4.25 to $7.75 in a research report on Monday, January 12th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.44.

Lithium Americas (Argentina) Price Performance

The stock has a market cap of $1.30 billion and a price-to-earnings ratio of -16.02. The stock’s 50 day simple moving average is $7.06 and its two-hundred day simple moving average is $5.19.

Institutional Trading of Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cibc World Market Inc. lifted its position in Lithium Americas (Argentina) by 2.3% during the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock worth $428,000 after buying an additional 2,940 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Lithium Americas (Argentina) by 3.0% in the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after acquiring an additional 3,000 shares during the last quarter. Raymond James Financial Inc. lifted its position in shares of Lithium Americas (Argentina) by 14.1% during the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after purchasing an additional 3,214 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after purchasing an additional 3,552 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Lithium Americas (Argentina) by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Company Profile

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.