Scotiabank Issues Pessimistic Forecast for Lithium Americas (Argentina) (NYSE:LAR) Stock Price

Lithium Americas (Argentina) (NYSE:LAR) had its price target decreased by research analysts at Scotiabank from $11.00 to $10.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s target price indicates a potential upside of 81.00% from the company’s previous close.

A number of other equities research analysts also recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a report on Thursday, July 2nd. Zacks Research lowered shares of Lithium Americas (Argentina) from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.99.

Lithium Americas (Argentina) Price Performance

LAR traded down $0.35 on Tuesday, reaching $5.53. 665,559 shares of the stock were exchanged, compared to its average volume of 2,908,873. The company’s 50-day moving average price is $8.36 and its 200 day moving average price is $8.06. Lithium Americas has a fifty-two week low of $2.52 and a fifty-two week high of $12.05. The firm has a market capitalization of $905.00 million and a PE ratio of -14.54.

Lithium Americas (Argentina) (NYSE:LAR) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). As a group, equities analysts forecast that Lithium Americas will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers lifted its holdings in shares of Lithium Americas (Argentina) by 7.0% in the 1st quarter. Cetera Investment Advisers now owns 17,755 shares of the company’s stock valued at $119,000 after buying an additional 1,162 shares during the period. Brown Advisory Inc. grew its holdings in Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company’s stock worth $216,000 after acquiring an additional 3,000 shares during the period. Raymond James Financial Inc. grew its holdings in Lithium Americas (Argentina) by 14.1% during the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company’s stock worth $54,000 after acquiring an additional 3,214 shares during the period. BNP Paribas Financial Markets raised its position in Lithium Americas (Argentina) by 45.3% during the third quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock valued at $38,000 after acquiring an additional 3,552 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Lithium Americas (Argentina) by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after acquiring an additional 3,575 shares during the period. Hedge funds and other institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) is a subsidiary of Lithium Americas Corp. focused on the exploration, development and production of lithium brine resources in the Jujuy province of northwest Argentina. The company’s principal asset is the Cauchari-Olaroz project, situated within the Lithium Triangle, one of the world’s richest regions for lithium-bearing brines. Through its Argentine operations, Lithium Americas aims to supply battery-grade lithium carbonate critical to electric vehicle and energy-storage markets.

The Cauchari-Olaroz project encompasses concessions on the Salar de Cauchari and Salar de Olaroz salt flats, where detailed drilling programs and pilot‐scale evaporation ponds have demonstrated favorable lithium concentrations.