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

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) 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 trading hands.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. National Bank Financial upped their target price on Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a report on Friday, December 19th. Scotiabank upgraded Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the company from $4.25 to $7.75 in a report on Monday, January 12th. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and boosted their price target for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a research note on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.66.

Lithium Americas (Argentina) Price Performance

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

Institutional Inflows and Outflows

Several 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 about $34,000. JPMorgan Chase & Co. purchased a new stake in shares of Lithium Americas (Argentina) during the second quarter worth about $37,000. Sage Investment Counsel LLC acquired a new position in shares of Lithium Americas (Argentina) during the third quarter valued at about $38,000. BNP Paribas Financial Markets increased its holdings in shares of Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of Lithium Americas (Argentina) by 538.8% in the 4th 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. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.