Lithium Americas (Argentina) (NYSE:LAR) Stock Price Down 4.2% – Time to Sell?

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) dropped 4.2% during mid-day trading on Tuesday . The stock traded as low as $5.25 and last traded at $5.26. Approximately 294,020 shares changed hands during trading, a decline of 84% from the average daily volume of 1,828,771 shares. The stock had previously closed at $5.49.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LAR shares. Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research report on Wednesday, August 20th. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. BMO Capital Markets increased their target price on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a “market perform” rating in a research note on Tuesday, August 12th. Weiss Ratings restated a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. Finally, Scotiabank increased their price objective on Lithium Americas (Argentina) from $3.50 to $4.25 and gave the company a “sector perform” rating in a research report on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.25.

Lithium Americas (Argentina) Stock Performance

The stock has a 50-day simple moving average of $4.50 and a 200 day simple moving average of $3.29.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). Equities analysts predict that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter worth $92,000. Banco Santander S.A. bought a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $46,000. Swiss National Bank acquired a new stake in Lithium Americas (Argentina) in the 1st quarter worth $474,000. National Bank of Canada FI bought a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth about $244,000. Finally, Koss Olinger Consulting LLC acquired a new position in shares of Lithium Americas (Argentina) during the first quarter valued at about $70,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.