Lithium Americas (Argentina) (NYSE:LAR) Stock Gets Price Target Cut from National Bank Financial

Lithium Americas (Argentina) (NYSE:LAR) had its price target lowered by National Bank Financial from $13.00 to $11.00 in a research note issued to investors on Monday morning,BayStreet reports. The firm currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the company. Wall Street Zen downgraded Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Scotiabank cut their price target on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating for the company in a research note on Wednesday, August 12th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. Finally, Stifel Nicolaus lifted their price target on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Lithium Americas (Argentina) has a consensus rating of “Moderate Buy” and a consensus price target of $10.07.

Lithium Americas (Argentina) Stock Up 0.1%

Lithium Americas (Argentina) stock opened at $4.46 on Monday. Lithium Americas has a 12 month low of $3.62 and a 12 month high of $12.05. The stock has a market cap of $732.71 million and a P/E ratio of -13.13. The company’s fifty day simple moving average is $5.91 and its 200-day simple moving average is $7.53.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). During the same period last year, the firm posted ($0.03) earnings per share. On average, equities research analysts expect that Lithium Americas will post 0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LAR. ABN Amro Investment Solutions acquired a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at $6,335,000. Renaissance Technologies LLC acquired a new position in Lithium Americas (Argentina) during the first quarter worth $5,328,000. Bank of America Corp DE raised its holdings in Lithium Americas (Argentina) by 45.4% during the first quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock valued at $4,475,000 after buying an additional 209,252 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its holdings in Lithium Americas (Argentina) by 1,042.6% during the third quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock valued at $878,000 after buying an additional 145,606 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in Lithium Americas (Argentina) during the first quarter valued at about $756,000. Institutional investors and hedge funds own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp. is a lithium development and production company focused on properties in Argentina. Its principal asset is the Cauchari-Olaroz lithium project in Jujuy Province, a large-scale operation that produces lithium carbonate for use in electric vehicle batteries, energy-storage systems and other applications.

Cauchari-Olaroz is operated through Minera Exar, a joint venture involving Lithium Argentina, Ganfeng Lithium and the Jujuy provincial energy and mining company JEMSE.