Lithium Americas (Argentina) (NYSE:LAR) Lowered to “Hold” Rating by Zacks Research

Lithium Americas (Argentina) (NYSE:LAR) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday, March 23rd. Scotiabank boosted their target price on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Finally, TD Securities boosted their target price on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.13.

Lithium Americas (Argentina) Price Performance

Shares of LAR opened at $8.08 on Tuesday. The company’s fifty day moving average is $9.27 and its two-hundred day moving average is $7.52. Lithium Americas has a 1 year low of $1.90 and a 1 year high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). On average, sell-side analysts predict that Lithium Americas will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cetera Investment Advisers increased its position in Lithium Americas (Argentina) by 7.0% during the 1st quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock worth $119,000 after purchasing an additional 1,162 shares in the last quarter. Cibc World Market Inc. increased 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 purchasing an additional 2,940 shares in the last quarter. Brown Advisory Inc. increased its position in Lithium Americas (Argentina) by 3.0% during the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after purchasing an additional 3,000 shares in the last quarter. Raymond James Financial Inc. increased its position in Lithium Americas (Argentina) by 14.1% during the 2nd 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. Finally, BNP Paribas Financial Markets increased its position in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after purchasing an additional 3,552 shares in the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.