Lithium Americas (Argentina) (NYSE:LAR) Given New $11.00 Price Target at National Bank Financial

Lithium Americas (Argentina) (NYSE:LAR) had its target price cut by equities research analysts at National Bank Financial from $13.00 to $11.00 in a research note issued on Monday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s target price indicates a potential upside of 141.49% from the company’s previous close.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 13th. Stifel Nicolaus raised their target price 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. Wall Street Zen cut shares of Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Scotiabank decreased 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 research note on Wednesday, August 12th. One equities 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 given a Sell rating to the company’s stock. According to MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and a consensus target price of $10.07.

Lithium Americas (Argentina) Trading Down 1.6%

Lithium Americas (Argentina) stock traded down $0.07 during midday trading on Monday, reaching $4.55. The company’s stock had a trading volume of 552,179 shares, compared to its average volume of 2,597,915. Lithium Americas has a 52 week low of $3.62 and a 52 week high of $12.05. The business has a 50-day moving average price of $6.06 and a 200-day moving average price of $7.59. The stock has a market cap of $747.48 million and a PE ratio of -13.43.

Lithium Americas (Argentina) (NYSE:LAR) last posted its earnings results on Tuesday, August 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same period in the previous year, the company earned ($0.03) EPS. As a group, research analysts predict that Lithium Americas will post 0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently added to or reduced their stakes in LAR. ABN Amro Investment Solutions acquired a new position in Lithium Americas (Argentina) in the 1st quarter valued at approximately $6,335,000. Renaissance Technologies LLC acquired a new position in shares of Lithium Americas (Argentina) during the first quarter worth $5,328,000. Bank of America Corp DE grew its stake in shares of Lithium Americas (Argentina) by 45.4% in the first 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 during the last quarter. Robertson Stephens Wealth Management LLC grew its stake in shares of Lithium Americas (Argentina) by 1,042.6% in the third quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock worth $878,000 after purchasing an additional 145,606 shares during the last quarter. Finally, Engineers Gate Manager LP increased its holdings in Lithium Americas (Argentina) by 44.0% in the second quarter. Engineers Gate Manager LP now owns 101,063 shares of the company’s stock valued at $836,000 after purchasing an additional 30,895 shares during the period. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.