Lithium Americas (Argentina) (NYSE:LAR) Releases Earnings Results, Beats Estimates By $0.03 EPS

Lithium Americas (Argentina) (NYSE:LAR) posted its quarterly earnings results on Tuesday. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03, Zacks reports.

Lithium Americas (Argentina) Stock Performance

Shares of LAR traded down $0.21 during midday trading on Tuesday, hitting $4.22. 972,253 shares of the stock traded hands, compared to its average volume of 2,526,848. Lithium Americas has a 1-year low of $3.92 and a 1-year high of $12.05. The firm has a market capitalization of $693.66 million and a PE ratio of -12.40. The business’s 50 day moving average price is $5.30 and its two-hundred day moving average price is $7.19.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. National Bank Financial decreased their target price on Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Monday, October 19th. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 27th. Scotiabank lowered their target price on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a report on Wednesday, August 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.07.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp., formerly known as Lithium Americas (Argentina) Corp. and associated with the NYSE symbol LAR, is a lithium development and production company focused on projects in Argentina. Its principal asset is the Cauchari-Olaroz lithium brine project in Jujuy Province, a region recognized for its significant lithium resources. Cauchari-Olaroz produces lithium carbonate, a key raw material used in rechargeable batteries for electric vehicles, energy-storage systems, consumer electronics and other applications.