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

Lithium Americas (Argentina) (NYSE:LAR) released its quarterly earnings data 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) Trading Down 6.2%

Shares of LAR traded down $0.27 during mid-day trading on Tuesday, reaching $4.17. The company’s stock had a trading volume of 1,021,141 shares, compared to its average volume of 2,527,127. Lithium Americas has a 52 week low of $3.92 and a 52 week high of $12.05. The company’s fifty day moving average price is $5.30 and its two-hundred day moving average price is $7.19. The stock has a market cap of $683.97 million and a PE ratio of -12.31.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LAR shares. Scotiabank lowered their target price on shares of Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a report on Wednesday, August 12th. Wall Street Zen cut Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th. Stifel Nicolaus raised 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. Zacks Research downgraded Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 27th. Finally, National Bank Financial dropped their price target on Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.