Lithium Americas (Argentina) (NYSE:LAR) Trading Down 7.4% – Should You Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price fell 7.4% during mid-day trading on Thursday . The company traded as low as $6.66 and last traded at $6.6510. Approximately 319,375 shares traded hands during trading, a decline of 89% from the average session volume of 2,961,316 shares. The stock had previously closed at $7.18.

Analyst Upgrades and Downgrades

LAR has been the topic of a number of research reports. Scotiabank upped their price target 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. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. TD Securities upped their target price on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $8.13.

Lithium Americas (Argentina) Price Performance

The company’s 50-day simple moving average is $8.90 and its 200 day simple moving average is $8.04.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). On average, sell-side analysts predict that Lithium Americas will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in shares of Lithium Americas (Argentina) by 6.8% during the 4th quarter. Van ECK Associates Corp now owns 10,251,244 shares of the company’s stock worth $57,202,000 after acquiring an additional 657,087 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Lithium Americas (Argentina) by 9.3% in 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 acquiring an additional 408,065 shares in the last quarter. Invesco Ltd. raised its stake in shares of Lithium Americas (Argentina) by 6.1% in the 3rd quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock valued at $7,790,000 after acquiring an additional 133,572 shares in the last quarter. Millennium Management LLC lifted its holdings in 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 purchasing an additional 1,793,994 shares during the last quarter. Finally, Seldon Capital LP lifted its holdings in 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 purchasing an additional 329,242 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.