Lithium Americas (Argentina) (NYSE:LAR) Cut to Sell at Wall Street Zen

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

Several other brokerages have also recently weighed in on LAR. National Bank Financial reduced 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. 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 report on Wednesday, August 12th. Stifel Nicolaus boosted their target price on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. Finally, Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.07.

Lithium Americas (Argentina) Stock Performance

LAR stock opened at $4.58 on Friday. Lithium Americas has a fifty-two week low of $3.62 and a fifty-two week high of $12.05. The business’s 50 day moving average price is $5.72 and its two-hundred day moving average price is $7.35. The company has a market capitalization of $752.40 million and a price-to-earnings ratio of -13.48.

Lithium Americas (Argentina) (NYSE:LAR) last announced its earnings results 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 in the previous year, the company earned ($0.03) earnings per share. Sell-side analysts forecast that Lithium Americas will post 0.17 earnings per share for the current year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

Several large investors have recently made changes to their positions in the business. ABN Amro Investment Solutions bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $6,335,000. Renaissance Technologies LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth approximately $5,328,000. Bank of America Corp DE increased 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 valued at $4,475,000 after buying an additional 209,252 shares in the last quarter. Robertson Stephens Wealth Management LLC increased its position 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 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 1st quarter valued at approximately $756,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

About Lithium Americas (Argentina)

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.