Lithium Americas (Argentina) (TSE:LAR) Shares Down 6.9% – What’s Next?

Lithium Americas (Argentina) Corp. (TSE:LAR) was down 6.9% on Thursday . The stock traded as low as C$9.91 and last traded at C$9.91. Approximately 176,428 shares traded hands during trading, a decline of 46% from the average daily volume of 324,614 shares. The stock had previously closed at C$10.65.

Wall Street Analysts Forecast Growth

LAR has been the subject of several recent analyst reports. HSBC upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Canaccord Genuity Group raised their target price on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a report on Monday, January 12th. Finally, TD Securities upped their price target on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Three research analysts have rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to data from MarketBeat, Lithium Americas (Argentina) presently has an average rating of “Strong Buy” and a consensus price target of C$13.38.

Lithium Americas (Argentina) Stock Up 4.3%

The firm has a market capitalization of C$1.65 billion, a price-to-earnings ratio of -21.66 and a beta of 1.75. The stock has a 50 day moving average of C$9.59 and a 200 day moving average of C$8.16.

Lithium Americas (Argentina) (TSE:LAR) last posted its earnings results on Monday, March 23rd. The company reported C$0.01 EPS for the quarter.

Insider Activity

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

About Lithium Americas (Argentina)

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’.