Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down – Time to Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $6.87, but opened at $6.26. Lithium Americas (Argentina) shares last traded at $6.34, with a volume of 4,821,340 shares traded.

Analysts Set New Price Targets

A number of brokerages have issued reports on LAR. Weiss Ratings restated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday. TD Securities lifted their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their price objective for the company from $4.75 to $9.60 in a report on Monday, January 19th. National Bank Financial raised their target price on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Finally, Stifel Nicolaus lifted their price target on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $7.66.

Lithium Americas (Argentina) Trading Down 6.3%

The business’s 50-day simple moving average is $7.19 and its 200-day simple moving average is $5.62. The company has a market capitalization of $1.04 billion and a PE ratio of -13.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC purchased a new stake in Lithium Americas (Argentina) in the third quarter valued at $34,000. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at about $37,000. Sage Investment Counsel LLC purchased a new position in shares of Lithium Americas (Argentina) during the 3rd quarter valued at about $38,000. BNP Paribas Financial Markets lifted its holdings in shares of Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after buying an additional 3,552 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Lithium Americas (Argentina) by 538.8% in the fourth quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after buying an additional 5,900 shares during the last quarter. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.