Lithium Americas (Argentina) (NYSE:LAR) Releases Earnings Results, Misses Expectations By $0.07 EPS

Lithium Americas (Argentina) (NYSE:LAR) released its quarterly earnings data on Tuesday. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07), Zacks reports.

Lithium Americas (Argentina) Stock Down 3.1%

Shares of NYSE:LAR opened at $11.43 on Wednesday. The business has a 50-day moving average of $8.05 and a two-hundred day moving average of $6.73. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $12.05.

Analyst Ratings Changes

A number of research analysts have recently commented on LAR shares. TD Securities raised their price target on Lithium Americas (Argentina) from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Deutsche Bank Aktiengesellschaft upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 target price for the company in a research report on Tuesday, January 13th. Scotiabank raised their target price on shares of Lithium Americas (Argentina) from $7.75 to $8.50 and gave the company a “sector outperform” rating in a research note on Monday, April 6th. Wall Street Zen upgraded shares of Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Lithium Americas (Argentina) in a research note on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $7.77.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Several hedge funds have recently modified their holdings of LAR. Royal Bank of Canada acquired a new stake in Lithium Americas (Argentina) during the first quarter worth $572,000. Goldman Sachs Group Inc. bought a new position in shares of Lithium Americas (Argentina) during the first quarter valued at $1,064,000. Woodline Partners LP bought a new stake in shares of Lithium Americas (Argentina) in the 1st quarter worth about $3,456,000. JPMorgan Chase & Co. acquired a new stake in shares of Lithium Americas (Argentina) during the 2nd quarter worth about $37,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in Lithium Americas (Argentina) by 7.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company’s stock valued at $112,000 after purchasing an additional 3,575 shares during the last quarter. 49.17% of the stock is owned by 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.