Lithium Americas (Argentina) (NYSE:LAR) Stock Rating Lowered by Scotiabank

Key Points

• Lithium Americas (Argentina) has been downgraded by Scotiabank from a "strong-buy" rating to a "hold" rating.
• Other analysts, including National Bankshares and BMO Capital Markets, raised Lithium Americas' target stock price, indicating varying sentiments among different financial institutions.
• The company reported earnings of ($0.04) per share for the last quarter, missing expectations, and analysts predict a loss of -0.05 earnings per share for the current fiscal year.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) was downgraded by investment analysts at Scotiabank from a "strong-buy" rating to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

LAR has been the topic of several other research reports. National Bankshares raised shares of Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $2.90 to $4.50 in a research report on Tuesday. BMO Capital Markets boosted their target price on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a "market perform" rating in a research report on Tuesday. Finally, National Bank Financial raised shares of Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a research report on Monday.

Lithium Americas (Argentina) Stock Performance

NYSE:LAR opened at $3.46 on Tuesday. The stock has a market cap of $560.17 million and a P/E ratio of -49.42. Lithium Americas has a twelve month low of $1.71 and a twelve month high of $3.96. The stock's 50 day moving average is $2.47.

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 the consensus estimate of ($0.01) by ($0.03). As a group, research analysts anticipate that Lithium Americas will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently made changes to their positions in the business. Brown Advisory Inc. boosted its holdings in shares of Lithium Americas (Argentina) by 3.0% in the 2nd quarter. Brown Advisory Inc. now owns 103,636 shares of the company's stock valued at $216,000 after acquiring an additional 3,000 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Lithium Americas (Argentina) by 7.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 54,020 shares of the company's stock valued at $112,000 after acquiring an additional 3,575 shares during the last quarter. Stratos Wealth Advisors LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $28,000. Sandhill Capital Partners LLC purchased a new stake in shares of Lithium Americas (Argentina) in the 1st quarter valued at $29,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Lithium Americas (Argentina) in the 2nd quarter valued at $37,000. 49.17% of the stock is owned by hedge funds and other 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.

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