Lithium Americas (Argentina) (NYSE:LAR) Downgraded by Zacks Research to “Strong Sell”

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

Other analysts have also recently issued reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Thursday, July 2nd. Scotiabank boosted their price objective on Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. TD Securities increased their target price on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.13.

Lithium Americas (Argentina) Stock Performance

NYSE LAR opened at $7.19 on Tuesday. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of -18.93. Lithium Americas has a one year low of $2.45 and a one year high of $12.05. The company’s 50 day moving average price is $9.11 and its 200 day moving average price is $8.04.

Lithium Americas (Argentina) (NYSE:LAR) last released 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). Sell-side analysts forecast that Lithium Americas will post 0.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter valued at approximately $37,000. BNP Paribas Financial Markets boosted its holdings in Lithium Americas (Argentina) by 45.3% in the third 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 during the period. TD Waterhouse Canada Inc. increased its stake in Lithium Americas (Argentina) by 538.8% during the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock valued at $39,000 after purchasing an additional 5,900 shares during the last quarter. Diversify Advisory Services LLC bought a new stake in Lithium Americas (Argentina) during the second quarter valued at $40,000. Finally, Raymond James Financial Inc. raised its holdings 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 during the period. 49.17% of the stock is currently owned by 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.