Lithium Americas (Argentina) (NYSE:LAR) Cut to Hold at Zacks Research

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

A number of other equities research analysts have also recently weighed in on LAR. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday, March 23rd. TD Securities lifted their price target on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. 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. Finally, Scotiabank lifted their price target on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and an average target price of $8.13.

Lithium Americas (Argentina) Stock Down 5.3%

LAR opened at $8.08 on Tuesday. The firm’s fifty day simple moving average is $9.27 and its two-hundred day simple moving average is $7.52. Lithium Americas has a 52-week low of $1.90 and a 52-week high of $12.05.

Lithium Americas (Argentina) (NYSE:LAR) last issued its earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Equities research analysts expect that Lithium Americas will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LAR. Royal Bank of Canada purchased a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $572,000. Goldman Sachs Group Inc. purchased a new stake in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $1,064,000. Woodline Partners LP acquired a new position in shares of Lithium Americas (Argentina) in the 1st quarter valued at $3,456,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $37,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the period. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.