Lithium Americas (Argentina) (TSE:LAR) Shares Down 9.3% – Here’s What Happened

Lithium Americas (Argentina) Corp. (TSE:LAR) shares fell 9.3% on Friday . The stock traded as low as C$6.60 and last traded at C$6.65. 165,309 shares were traded during trading, a decline of 26% from the average session volume of 224,575 shares. The stock had previously closed at C$7.33.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Scotiabank downgraded shares of Lithium Americas (Argentina) from an “outperform” rating to a “hold” rating in a report on Wednesday, August 13th. Cormark upgraded shares of Lithium Americas (Argentina) to a “moderate buy” rating in a research note on Wednesday, August 20th. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Buy”.

Lithium Americas (Argentina) Trading Down 6.0%

The company has a market cap of C$1.12 billion, a P/E ratio of -13.78 and a beta of 1.84. The business has a 50 day moving average price of C$5.76 and a 200-day moving average price of C$4.28.

Lithium Americas (Argentina) (TSE:LAR) last issued its earnings results on Monday, November 10th. The company reported C($0.40) earnings per share for the quarter.

About Lithium Americas (Argentina)

Lithium Argentina is a producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng Lithium Co Ltd, is operating the Cauchari-Olaroz lithium brine operation in Argentina and advancing development of additional lithium resources in the region.