Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down – Here’s What Happened

Lithium Americas (Argentina) Corp. (NYSE:LAR) gapped down prior to trading on Friday . The stock had previously closed at $8.29, but opened at $7.66. Lithium Americas (Argentina) shares last traded at $7.93, with a volume of 1,514,958 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LAR shares. National Bankshares 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. Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective for the company in a research report on Tuesday, January 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a report on Wednesday, December 24th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their target price for the stock from $4.25 to $7.75 in a research note on Monday, January 12th. Finally, Stifel Nicolaus raised their price target on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and an average price target of $7.01.

Lithium Americas (Argentina) Price Performance

The business’s 50 day moving average is $5.62 and its two-hundred day moving average is $4.19.

Lithium Americas (Argentina) (NYSE:LAR) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). As a group, equities analysts anticipate that Lithium Americas will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Stratos Wealth Advisors LLC purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at about $28,000. Insigneo Advisory Services LLC bought a new position in Lithium Americas (Argentina) during the third quarter valued at approximately $34,000. JPMorgan Chase & Co. purchased a new position in shares of Lithium Americas (Argentina) during the second quarter worth approximately $37,000. Sage Investment Counsel LLC bought a new stake in shares of Lithium Americas (Argentina) in the 3rd quarter worth approximately $38,000. Finally, 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 worth $38,000 after acquiring an additional 3,552 shares during 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.