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

Lithium Americas (Argentina) (NYSE:LAR) announced its quarterly earnings data on Tuesday. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03, Zacks reports.

Lithium Americas (Argentina) Stock Performance

Shares of Lithium Americas (Argentina) stock traded down $0.12 on Wednesday, reaching $3.98. 716,769 shares of the stock were exchanged, compared to its average volume of 2,525,038. The firm’s 50 day moving average is $5.24 and its 200-day moving average is $7.17. Lithium Americas has a one year low of $3.92 and a one year high of $12.05. The firm has a market cap of $654.26 million and a PE ratio of -11.78.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wall Street Zen downgraded Lithium Americas (Argentina) from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th. Zacks Research cut shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 27th. Scotiabank lowered their price target 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. National Bank Financial dropped their price target on shares of Lithium Americas (Argentina) from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Finally, Stifel Nicolaus increased their price target on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.07.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is a lithium-focused company with operations and development projects in Argentina. It was formed from the 2023 separation of Lithium Americas’ Argentine assets from its North American business and is listed on the New York Stock Exchange under the symbol LAR. The company’s principal producing asset is the Cauchari-Olaroz brine project in Jujuy Province, developed through a joint venture. The project produces lithium carbonate, a material used in batteries and other applications.