Lithium Americas (Argentina) (NYSE:LAR) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Lithium Americas (Argentina) (NYSE:LAR) from a hold rating to a sell rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on LAR. Stifel Nicolaus increased their price objective on shares of Lithium Americas (Argentina) from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lithium Americas (Argentina) in a research report on Tuesday, September 29th. Zacks Research raised Lithium Americas (Argentina) from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Scotiabank decreased their price target on Lithium Americas (Argentina) from $10.00 to $9.50 and set a “sector outperform” rating on the stock in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.07.

Lithium Americas (Argentina) Price Performance

Shares of LAR opened at $4.55 on Friday. Lithium Americas has a 1-year low of $3.62 and a 1-year high of $12.05. The stock has a market cap of $747.48 million and a PE ratio of -13.40. The firm has a 50-day simple moving average of $6.00 and a two-hundred day simple moving average of $7.57.

Lithium Americas (Argentina) (NYSE:LAR) last released its quarterly earnings results on Tuesday, August 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04). During the same quarter last year, the firm earned ($0.03) EPS. As a group, sell-side analysts expect that Lithium Americas will post 0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Hedge funds have recently added to or reduced their stakes in the business. ABN Amro Investment Solutions acquired a new position in Lithium Americas (Argentina) during the 1st quarter worth $6,335,000. Renaissance Technologies LLC purchased a new stake in Lithium Americas (Argentina) during the 1st quarter worth about $5,328,000. Bank of America Corp DE increased its holdings in Lithium Americas (Argentina) by 45.4% during the 1st quarter. Bank of America Corp DE now owns 669,931 shares of the company’s stock worth $4,475,000 after purchasing an additional 209,252 shares during the period. Robertson Stephens Wealth Management LLC raised its position in Lithium Americas (Argentina) by 1,042.6% in the 3rd quarter. Robertson Stephens Wealth Management LLC now owns 159,571 shares of the company’s stock valued at $878,000 after purchasing an additional 145,606 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new stake in Lithium Americas (Argentina) in the 1st quarter valued at about $756,000. 49.17% of the stock is currently owned by institutional investors and hedge funds.

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.