Lithium Americas (Argentina) (NYSE:LAR) Rating Lowered to “Sell” at Wall Street Zen

Lithium Americas (Argentina) (NYSE:LAR) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

LAR has been the subject of several other research reports. Zacks Research raised shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Scotiabank cut 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 raised 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. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.32.

Lithium Americas (Argentina) Stock Performance

Shares of NYSE:LAR opened at $4.62 on Friday. The firm has a market cap of $757.81 million and a price-to-earnings ratio of -13.58. The firm has a fifty day moving average price of $6.06 and a 200 day moving average price of $7.59. Lithium Americas has a fifty-two week low of $3.62 and a fifty-two week high of $12.05.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. AXQ Capital LP purchased a new position in shares of Lithium Americas (Argentina) in the second quarter valued at $85,000. Modera Wealth Management LLC bought a new stake in Lithium Americas (Argentina) in the first quarter worth $97,000. VectorGlobal IAG Inc. bought a new stake in Lithium Americas (Argentina) in the first quarter worth $100,000. Cetera Investment Advisers increased its position in Lithium Americas (Argentina) by 7.0% in the first quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock worth $119,000 after purchasing an additional 1,162 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in Lithium Americas (Argentina) by 62.4% during the first quarter. The Manufacturers Life Insurance Company now owns 61,933 shares of the company’s stock valued at $414,000 after purchasing an additional 23,787 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors.

About Lithium Americas (Argentina)

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.