Lithium Americas (Argentina) (TSE:LAR) Shares Down 8.1% – What’s Next?

Lithium Americas (Argentina) Corp. (TSE:LAR) was down 8.1% during trading on Friday . The company traded as low as C$8.23 and last traded at C$8.74. Approximately 83,578 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 314,316 shares. The stock had previously closed at C$9.51.

Analyst Ratings Changes

LAR has been the subject of a number of recent analyst reports. TD Securities lifted their price target on shares of Lithium Americas (Argentina) from C$7.00 to C$9.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. Canaccord Genuity Group upped their price objective on shares of Lithium Americas (Argentina) from C$17.50 to C$17.75 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Scotiabank raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 12th. Finally, HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Monday, January 19th. Three equities research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of C$13.38.

Lithium Americas (Argentina) Trading Down 8.7%

The company has a market capitalization of C$1.41 billion, a PE ratio of -18.47 and a beta of 1.74. The business has a fifty day moving average of C$9.78 and a 200 day moving average of C$7.80.

Lithium Americas (Argentina) (TSE:LAR) last issued its quarterly earnings results on Monday, March 23rd. The company reported C$0.01 earnings per share (EPS) for the quarter.

Insider Activity at Lithium Americas (Argentina)

In other Lithium Americas (Argentina) news, insider Daniel Cherniak sold 30,977 shares of the firm’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total value of C$327,426.89. Following the completion of the transaction, the insider owned 24,754 shares of the company’s stock, valued at C$261,649.78. This trade represents a 55.58% decrease in their position. Also, insider Ignacio Celorrio sold 50,453 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of C$10.11, for a total transaction of C$510,079.83. Following the completion of the transaction, the insider owned 324,110 shares of the company’s stock, valued at approximately C$3,276,752.10. This trade represents a 13.47% decrease in their position.

Lithium Americas (Argentina) Company Profile

Lithium Argentina is an emerging producer of lithium carbonate for use primarily in lithium-ion batteries and electric vehicles. The Company, in partnership with Ganfeng operates the Cauchari-Olaroz lithium brine operation in the Jujuy province of Argentina and advancing the PPG Project in the Salta province of Argentina. Lithium Argentina currently trades on the Toronto Stock Exchange (‘ TSX ‘) and the New York Stock Exchange (‘ NYSE ‘) under the ticker ‘LAR’.