Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down – Should You Sell?

Lithium Americas (Argentina) Corp. (NYSE:LAR) shares gapped down before the market opened on Friday . The stock had previously closed at $5.20, but opened at $4.86. Lithium Americas (Argentina) shares last traded at $4.82, with a volume of 1,389,092 shares trading hands.

Analysts Set New Price Targets

A number of analysts have issued reports on LAR shares. Zacks Research upgraded shares of Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. National Bank Financial upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, August 11th. Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a report on Wednesday, August 20th. Scotiabank increased their target price on shares of Lithium Americas (Argentina) from $3.50 to $4.25 and gave the stock a “sector perform” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lithium Americas (Argentina) has an average rating of “Hold” and an average price target of $4.25.

Lithium Americas (Argentina) Price Performance

The company has a market capitalization of $788.78 million and a price-to-earnings ratio of -9.72. The business has a fifty day moving average price of $4.10 and a 200 day moving average price of $3.07.

Lithium Americas (Argentina) (NYSE:LAR) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). As a group, sell-side analysts predict that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors have recently made changes to their positions in LAR. Stratos Wealth Advisors LLC acquired a new position in shares of Lithium Americas (Argentina) in the 2nd quarter worth approximately $28,000. Sandhill Capital Partners LLC bought a new stake in Lithium Americas (Argentina) in the first quarter valued at $29,000. Insigneo Advisory Services LLC acquired a new position in Lithium Americas (Argentina) during the third quarter worth $34,000. JPMorgan Chase & Co. bought a new position in Lithium Americas (Argentina) during the 2nd quarter valued at about $37,000. Finally, Sage Investment Counsel LLC bought a new position in Lithium Americas (Argentina) during the 3rd quarter valued at about $38,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

Lithium Americas (Argentina) Company Profile

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.