Lithium Americas (Argentina) (TSE:LAR) Releases Quarterly Earnings Results
by Danessa Lincoln · The Markets DailyLithium Americas (Argentina) (TSE:LAR – Get Free Report) announced its quarterly earnings results on Monday. The company reported C$0.01 earnings per share for the quarter, FiscalAI reports.
Lithium Americas (Argentina) Trading Down 3.8%
LAR opened at C$7.92 on Monday. The business has a 50 day moving average of C$9.98 and a 200-day moving average of C$7.65. The stock has a market capitalization of C$1.29 billion, a price-to-earnings ratio of -15.84 and a beta of 1.74. Lithium Americas has a 1-year low of C$2.36 and a 1-year high of C$12.03.
Analysts Set New Price Targets
LAR has been the topic of a number of recent analyst reports. TD Securities raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Monday, February 9th. HSBC upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Monday, January 19th. Finally, Scotiabank upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Four investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.
Get Our Latest Analysis on LAR
Insiders Place Their Bets
In related news, insider Ignacio Celorrio sold 50,453 shares of the company’s stock in a transaction on Thursday, January 29th. The shares were 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 directly owned 324,110 shares in the company, valued at C$3,276,752.10. This represents a 13.47% decrease in their position. Also, insider Daniel Cherniak sold 30,977 shares of the stock in a transaction on Wednesday, January 28th. The shares were sold at an average price of C$10.57, for a total transaction of C$327,426.89. Following the completion of the sale, the insider directly owned 24,754 shares of the company’s stock, valued at approximately C$261,649.78. This trade represents a 55.58% decrease in their ownership of the stock.
About Lithium Americas (Argentina)
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’.