Lithium Americas (Argentina) (NYSE:LAR) Trading Down 5.6% – Here’s Why

Lithium Americas (Argentina) Corp. (NYSE:LAR) was down 5.6% on Monday . The stock traded as low as $6.39 and last traded at $6.3810. Approximately 928,511 shares were traded during trading, a decline of 71% from the average daily volume of 3,178,892 shares. The stock had previously closed at $6.76.

Analysts Set New Price Targets

A number of research analysts have recently commented on LAR shares. National Bank Financial increased their price target on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the company an “outperform” rating in a research note on Friday, December 19th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and increased their price target for the stock from $4.25 to $7.75 in a report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Wednesday, December 24th. TD Securities raised Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Deutsche Bank Aktiengesellschaft raised 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 report on Tuesday, January 13th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.44.

Lithium Americas (Argentina) Price Performance

The company has a fifty day moving average price of $7.35 and a 200 day moving average price of $5.50. The company has a market cap of $1.02 billion and a PE ratio of -12.66.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Counterpoint Mutual Funds LLC bought a new stake in Lithium Americas (Argentina) during the third quarter worth about $481,000. Van ECK Associates Corp raised its stake in shares of Lithium Americas (Argentina) by 119.3% during the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after acquiring an additional 5,219,416 shares in the last quarter. Boston Partners lifted its holdings in shares of Lithium Americas (Argentina) by 15.3% in the 2nd quarter. Boston Partners now owns 136,505 shares of the company’s stock worth $284,000 after acquiring an additional 18,096 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Lithium Americas (Argentina) by 347.3% in the 3rd quarter. Quantbot Technologies LP now owns 196,265 shares of the company’s stock valued at $656,000 after purchasing an additional 152,386 shares in the last quarter. Finally, CenterBook Partners LP grew its holdings in shares of Lithium Americas (Argentina) by 102.1% during the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock valued at $14,029,000 after purchasing an additional 2,122,035 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.