Lithium Americas (Argentina) (NYSE:LAR) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Lithium Americas (Argentina) (NYSE:LAR) from a hold rating to a sell rating in a research report report published on Sunday,Wall Street Zen reports.

LAR has been the subject of a number of other reports. Zacks Research upgraded Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. National Bank Financial cut their price target on Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Monday, October 19th. Stifel Nicolaus boosted their price objective on Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Scotiabank lowered their price objective 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and a consensus price target of $10.07.

Lithium Americas (Argentina) Stock Performance

NYSE LAR opened at $4.25 on Friday. Lithium Americas has a one year low of $3.62 and a one year high of $12.05. The company has a 50-day simple moving average of $5.81 and a 200-day simple moving average of $7.49. The firm has a market capitalization of $698.25 million and a PE ratio of -12.51.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Tuesday, August 11th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter last year, the company earned ($0.03) EPS. Equities analysts forecast that Lithium Americas will post 0.17 earnings per share for the current year.

Institutional Trading of Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently made changes to their positions in LAR. ABN Amro Investment Solutions acquired a new position in Lithium Americas (Argentina) in the 1st quarter worth approximately $6,335,000. Renaissance Technologies LLC purchased a new position in Lithium Americas (Argentina) during the 1st quarter worth approximately $5,328,000. Bank of America Corp DE grew its position in Lithium Americas (Argentina) by 45.4% during the 1st quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock worth $4,475,000 after purchasing an additional 209,252 shares in the last quarter. Robertson Stephens Wealth Management LLC raised its stake in Lithium Americas (Argentina) by 1,042.6% during the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock valued at $878,000 after purchasing an additional 145,606 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Lithium Americas (Argentina) during the 1st quarter valued at $756,000. 49.17% of the stock is currently owned by institutional investors.

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.