Lithium Americas (Argentina) (NYSE:LAR) Announces Earnings Results, Misses Expectations By $0.04 EPS

Lithium Americas (Argentina) (NYSE:LAR) announced its earnings results on Tuesday. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04), FiscalAI reports. During the same quarter in the previous year, the business posted ($0.03) earnings per share.

Lithium Americas (Argentina) Trading Up 0.7%

LAR traded up $0.05 during midday trading on Thursday, hitting $6.86. The company’s stock had a trading volume of 986,453 shares, compared to its average volume of 2,857,228. Lithium Americas has a 52-week low of $2.97 and a 52-week high of $12.05. The firm has a 50-day moving average price of $7.51 and a two-hundred day moving average price of $7.93. The firm has a market cap of $1.12 billion and a P/E ratio of -20.25.

Institutional Trading of Lithium Americas (Argentina)

A number of institutional investors and hedge funds have recently bought and sold shares of LAR. Royal Bank of Canada acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter worth $572,000. Goldman Sachs Group Inc. acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at $1,064,000. Woodline Partners LP purchased a new position in Lithium Americas (Argentina) in the first quarter valued at about $3,456,000. JPMorgan Chase & Co. acquired a new position in shares of Lithium Americas (Argentina) during the second quarter worth about $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Lithium Americas (Argentina) by 7.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock worth $112,000 after purchasing an additional 3,575 shares in the last quarter. Institutional investors and hedge funds own 49.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Zacks Research lowered Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Finally, Scotiabank decreased their price target on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $8.57.

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.