Lithium Americas (Argentina) (TSE:LAR) Stock Price Down 15% – Time to Sell?

Lithium Americas (Argentina) Corp. (TSE:LAR) fell 15% on Tuesday . The company traded as low as C$9.30 and last traded at C$9.35. 511,183 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 325,692 shares. The stock had previously closed at C$11.00.

Analyst Ratings Changes

LAR has been the topic of a number of research reports. HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. TD Securities upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. Finally, Scotiabank upgraded Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Four analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, Lithium Americas (Argentina) currently has an average rating of “Strong Buy”.

Lithium Americas (Argentina) Price Performance

The company has a market cap of C$1.52 billion, a PE ratio of -18.70 and a beta of 1.71. The stock has a fifty day moving average price of C$9.84 and a 200-day moving average price of C$7.25.

Insider Activity

In other news, insider Daniel Cherniak sold 30,977 shares of the company’s stock in a transaction dated Wednesday, January 28th. The stock was sold at an average price of C$10.57, for a total value of C$327,426.89. Following the transaction, the insider owned 24,754 shares in the company, valued at C$261,649.78. This represents a 55.58% decrease in their position. Also, insider Ignacio Celorrio sold 50,453 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the sale, the insider directly owned 324,110 shares of the company’s stock, valued at C$3,276,752.10. This trade represents a 13.47% decrease in their ownership of the stock.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.