Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $4.00 at BMO Capital Markets

Key Points

• BMO Capital Markets has raised its price target for Lithium Americas (Argentina) from $2.50 to $4.00, indicating a potential upside of 12.68% from the stock's previous close.
• Scotiabank has lowered its target price for the company from $3.50 to $3.00, yet maintains a "sector outperform" rating.
• The company's shares experienced a slight decline, trading down to $3.55 with a PE ratio of -50.71 and shares held predominantly by institutional investors at 49.17%.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) had its price objective lifted by analysts at BMO Capital Markets from $2.50 to $4.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm presently has a "market perform" rating on the stock. BMO Capital Markets' price objective points to a potential upside of 20.12% from the company's current price.

Separately, Scotiabank dropped their price objective on shares of Lithium Americas (Argentina) from $3.50 to $3.00 and set a "sector outperform" rating on the stock in a report on Tuesday, May 20th.

Lithium Americas (Argentina) Trading Down 1.2%

Shares of LAR stock traded down $0.04 on Tuesday, hitting $3.33. The company's stock had a trading volume of 1,063,942 shares. Lithium Americas has a fifty-two week low of $1.71 and a fifty-two week high of $3.96. The firm's fifty day moving average price is $2.52.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). As a group, analysts forecast that Lithium Americas will post -0.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. lifted its position in shares of Lithium Americas (Argentina) by 3.0% during the second quarter. Brown Advisory Inc. now owns 103,636 shares of the company's stock worth $216,000 after purchasing an additional 3,000 shares in the last quarter. Raymond James Financial Inc. increased its stake in Lithium Americas (Argentina) by 14.1% in the second quarter. Raymond James Financial Inc. now owns 26,030 shares of the company's stock valued at $54,000 after purchasing an additional 3,214 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Lithium Americas (Argentina) by 7.1% in the second 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 in the last quarter. Stratos Wealth Advisors LLC bought a new stake in Lithium Americas (Argentina) in the second quarter valued at approximately $28,000. Finally, Sandhill Capital Partners LLC bought a new stake in shares of Lithium Americas (Argentina) during the first quarter worth $29,000. Institutional investors own 49.17% of the company's stock.

About Lithium Americas (Argentina)

Lithium Argentina AG, a resource and materials company, focuses on advancing lithium projects in Argentina. The company owns interests in the Cauchari-Olaroz project located in Jujuy province; and the Pastos Grandes project located in Salta Province of Argentina. The company was formerly known as Lithium Americas (Argentina) Corp.