Lithium Americas (Argentina) (NYSE:LAR) Raised to Outperform at National Bankshares

Key Points

• Lithium Americas (Argentina) has been upgraded by National Bankshares from a "sector perform" rating to "outperform," with a new price target of $4.50, indicating a potential upside of 26.76% from its previous close.
• BMO Capital Markets also raised their price target on the stock to $4.00, while Scotiabank reduced their price objective to $3.00.
• The company reported a quarterly loss with an EPS of ($0.04), missing analysts' expectations, as hedge funds continue to accumulate shares, with institutional investors owning 49.17% of the stock.

National Bankshares upgraded shares of Lithium Americas (Argentina) (NYSE:LAR - Free Report) from a sector perform rating to an outperform rating in a research report sent to investors on Tuesday morning,BayStreet.CA reports. They currently have $4.50 price target on the stock, up from their prior price target of $2.90.

A number of other equities analysts have also recently issued reports on the stock. Scotiabank reduced 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 research note on Tuesday, May 20th. BMO Capital Markets raised their price objective on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a research note on Tuesday.

Lithium Americas (Argentina) Trading Down 1.2%

Shares of NYSE LAR traded down $0.04 during trading on Tuesday, reaching $3.33. The company had a trading volume of 1,063,942 shares. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $3.96. The business's 50 day moving average is $2.52.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report) last announced 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, equities research analysts forecast that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LAR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $9,308,000. Hancock Prospecting Pty Ltd acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $5,368,000. CenterBook Partners LP acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $4,613,000. Woodline Partners LP acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $3,456,000. Finally, Invesco Ltd. acquired a new position in Lithium Americas (Argentina) during the first quarter valued at approximately $3,307,000. Institutional investors and hedge funds 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.