Lithium Americas (Argentina) (NYSE:LAR) Trading Down 6% – Time to Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAR) traded down 6% on Wednesday . The company traded as low as $8.07 and last traded at $8.0180. 425,479 shares were traded during trading, a decline of 87% from the average session volume of 3,238,257 shares. The stock had previously closed at $8.53.

Analyst Upgrades and Downgrades

LAR has been the topic of several analyst reports. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 11th. TD Securities upped their target price 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, March 24th. Finally, Scotiabank upped their target price on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has a consensus rating of “Moderate Buy” and a consensus price target of $8.13.

Lithium Americas (Argentina) Stock Down 3.6%

The firm has a market capitalization of $1.33 billion and a PE ratio of -21.61. The stock’s fifty day simple moving average is $9.24 and its 200 day simple moving average is $7.50.

Lithium Americas (Argentina) (NYSE:LAR) last announced 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). On average, analysts predict that Lithium Americas will post 0.29 EPS for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of Lithium Americas (Argentina) by 6.8% in the fourth quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock worth $57,202,000 after purchasing an additional 657,087 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Lithium Americas (Argentina) by 9.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock worth $9,975,000 after acquiring an additional 408,065 shares during the last quarter. CenterBook Partners LP boosted its position in shares of Lithium Americas (Argentina) by 102.1% during the third quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after acquiring an additional 2,122,035 shares during the last quarter. Invesco Ltd. boosted its position in shares of Lithium Americas (Argentina) by 6.1% during the third quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock worth $7,790,000 after acquiring an additional 133,572 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Lithium Americas (Argentina) by 441.1% during the fourth quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after acquiring an additional 1,793,994 shares during the last quarter. 49.17% of the stock is currently owned by 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.