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

Shares of Lithium Americas (Argentina) Corp. (NYSE:LAR) gapped down before the market opened on Friday . The stock had previously closed at $8.29, but opened at $7.66. Lithium Americas (Argentina) shares last traded at $7.93, with a volume of 1,514,958 shares changing hands.

Analyst Ratings Changes

Several analysts recently commented on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research report on Wednesday, December 24th. Scotiabank raised shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $4.25 to $7.75 in a report on Monday. Stifel Nicolaus raised their price target on Lithium Americas (Argentina) from $6.00 to $8.50 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price on the stock in a research report on Tuesday. Finally, National Bankshares increased their price objective on shares of Lithium Americas (Argentina) from $4.75 to $6.50 and gave the stock an “outperform” rating in a research note on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of “Moderate Buy” and an average price target of $7.01.

Lithium Americas (Argentina) Stock Performance

The company’s 50-day moving average price is $5.54 and its 200 day moving average price is $4.13. The stock has a market capitalization of $1.32 billion and a P/E ratio of -16.26.

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

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently added to or reduced their stakes in LAR. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas (Argentina) by 119.3% in the third quarter. Van ECK Associates Corp now owns 9,594,157 shares of the company’s stock worth $32,045,000 after buying an additional 5,219,416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Lithium Americas (Argentina) by 9.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,786,166 shares of the company’s stock valued at $9,975,000 after acquiring an additional 408,065 shares during the last quarter. CenterBook Partners LP lifted its stake in Lithium Americas (Argentina) by 102.1% in the 3rd quarter. CenterBook Partners LP now owns 4,200,238 shares of the company’s stock worth $14,029,000 after purchasing an additional 2,122,035 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lithium Americas (Argentina) by 6.1% during the 3rd quarter. Invesco Ltd. now owns 2,332,308 shares of the company’s stock valued at $7,790,000 after purchasing an additional 133,572 shares during the last quarter. Finally, Seldon Capital LP bought a new position in shares of Lithium Americas (Argentina) during the 3rd quarter valued at about $6,076,000. 49.17% of the stock is owned by hedge funds and other institutional investors.

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.