Lithium Americas (Argentina) (NYSE:LAR) Lowered to Strong Sell Rating by Zacks Research

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

Several other equities research analysts have also recently issued reports on LAR. TD Securities lifted their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. Finally, Scotiabank boosted their price objective on shares of Lithium Americas (Argentina) from $8.50 to $11.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $8.13.

Lithium Americas (Argentina) Price Performance

Shares of NYSE LAR opened at $7.19 on Tuesday. Lithium Americas has a 1 year low of $2.45 and a 1 year high of $12.05. The company has a market capitalization of $1.18 billion and a P/E ratio of -18.93. The company has a 50 day simple moving average of $9.11 and a 200-day simple moving average of $8.04.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings data on Tuesday, May 12th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). As a group, research analysts expect that Lithium Americas will post 0.28 EPS for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in Lithium Americas (Argentina) by 6.8% during 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. grew its stake in shares of Lithium Americas (Argentina) by 9.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock valued at $9,975,000 after buying an additional 408,065 shares during the period. Invesco Ltd. increased its holdings in shares of Lithium Americas (Argentina) by 6.1% during the 3rd quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock worth $7,790,000 after buying an additional 133,572 shares during the last quarter. Millennium Management LLC raised its position in shares of Lithium Americas (Argentina) by 441.1% in the 4th quarter. Millennium Management LLC now owns 2,200,722 shares of the company’s stock worth $12,281,000 after buying an additional 1,793,994 shares during the period. Finally, Seldon Capital LP raised its position in shares of Lithium Americas (Argentina) by 18.1% in the 4th quarter. Seldon Capital LP now owns 2,148,931 shares of the company’s stock worth $11,992,000 after buying an additional 329,242 shares during the period. Institutional investors and hedge funds own 49.17% of the company’s stock.

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.