Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $8.09, but opened at $7.54. Lithium Americas (Argentina) shares last traded at $7.84, with a volume of 511,280 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a research note on Tuesday, January 13th. Scotiabank raised Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $4.25 to $7.75 in a report on Monday, January 12th. TD Securities upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. Finally, Stifel Nicolaus increased their price objective on shares of Lithium Americas (Argentina) from $6.00 to $8.50 and gave the company a “buy” rating in a report on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.44.

Lithium Americas (Argentina) Stock Down 1.0%

The company has a market capitalization of $1.30 billion and a price-to-earnings ratio of -16.02. The company’s fifty day simple moving average is $7.06 and its two-hundred day simple moving average is $5.19.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cibc World Market Inc. increased its position in shares of Lithium Americas (Argentina) by 2.3% during the 3rd quarter. Cibc World Market Inc. now owns 128,053 shares of the company’s stock worth $428,000 after purchasing an additional 2,940 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Lithium Americas (Argentina) by 3.0% during the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after buying an additional 3,000 shares during the period. Raymond James Financial Inc. grew its stake in Lithium Americas (Argentina) by 14.1% in the 2nd quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock valued at $54,000 after buying an additional 3,214 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Lithium Americas (Argentina) by 45.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the period. 49.17% of the stock is owned by institutional investors.

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.