Lithium Americas (Argentina) (NYSE:LAR) Price Target Raised to $4.00

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 raised by stock analysts at BMO Capital Markets from $2.50 to $4.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a "market perform" rating on the stock. BMO Capital Markets' target price would indicate a potential upside of 20.12% from the stock's current price.

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

Lithium Americas (Argentina) Trading Down 1.2%

LAR traded down $0.04 during trading hours on Tuesday, hitting $3.33. 1,063,942 shares of the company's stock were exchanged. Lithium Americas has a 1-year low of $1.71 and a 1-year high of $3.96. The firm has a 50-day moving average price of $2.52.

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

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAR. Wealth Enhancement Advisory Services LLC bought a new stake in Lithium Americas (Argentina) during the first quarter worth $592,000. Robertson Stephens Wealth Management LLC bought a new stake in Lithium Americas (Argentina) during the first quarter worth $56,000. Cambridge Investment Research Advisors Inc. bought a new stake in Lithium Americas (Argentina) during the first quarter worth $41,000. Balboa Wealth Partners bought a new stake in Lithium Americas (Argentina) during the first quarter worth $90,000. Finally, Mutual Advisors LLC bought a new stake in Lithium Americas (Argentina) during the first quarter worth $103,000. 49.17% of the stock is owned by institutional investors.

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.