Lithium Americas (Argentina) (NYSE:LAR) Shares Gap Down – What’s Next?

Lithium Americas (Argentina) Corp. (NYSE:LAR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $6.87, but opened at $6.26. Lithium Americas (Argentina) shares last traded at $6.34, with a volume of 4,821,340 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LAR. Wall Street Zen upgraded Lithium Americas (Argentina) from a “sell” rating to a “hold” rating in a research report on Saturday. Scotiabank upgraded shares of Lithium Americas (Argentina) from a “sector perform” rating to a “sector outperform” rating and upped their price target for the company from $4.25 to $7.75 in a report on Monday, January 12th. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and increased their price objective for the stock from $4.75 to $9.60 in a research report on Monday, January 19th. TD Securities raised their price objective on shares of Lithium Americas (Argentina) from $7.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating and set a $8.30 price objective on the stock in a research report on Tuesday, January 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.66.

Lithium Americas (Argentina) Price Performance

The stock has a 50-day moving average of $7.15 and a 200-day moving average of $5.66.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors have recently made changes to their positions in the business. Insigneo Advisory Services LLC acquired a new position in Lithium Americas (Argentina) during the third quarter worth $34,000. JPMorgan Chase & Co. acquired a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at $37,000. Sage Investment Counsel LLC bought a new stake in Lithium Americas (Argentina) during the 3rd quarter worth about $38,000. BNP Paribas Financial Markets lifted its position in Lithium Americas (Argentina) by 45.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 11,388 shares of the company’s stock worth $38,000 after buying an additional 3,552 shares in the last quarter. Finally, TD Waterhouse Canada Inc. boosted its stake in shares of Lithium Americas (Argentina) by 538.8% during the 4th quarter. TD Waterhouse Canada Inc. now owns 6,995 shares of the company’s stock worth $39,000 after buying an additional 5,900 shares during the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

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.