Lithium Americas (Argentina) (NYSE:LAR) Given "Sector Perform" Rating at Scotiabank

Key Points

• Scotiabank has reaffirmed its "sector perform" rating for Lithium Americas (Argentina) (NYSE:LAR) and raised the price target from $3.00 to $3.50, which indicates a potential downside from the previous close.
• Other analysts have also upgraded their ratings, with BMO Capital Markets increasing their target price to $4.00 and National Bankshares raising theirs to $4.50.
• In the first quarter, several institutional investors significantly increased their positions in Lithium Americas, with 49.17% of the stock now owned by institutional investors.

Lithium Americas (Argentina) (NYSE:LAR - Get Free Report)'s stock had its "sector perform" rating restated by investment analysts at Scotiabank in a report issued on Wednesday,Benzinga reports. They presently have a $3.50 target price on the stock, up from their previous target price of $3.00. Scotiabank's price target would indicate a potential upside of 6.38% from the company's previous close. Scotiabank also issued estimates for Lithium Americas (Argentina)'s FY2025 earnings at ($0.07) EPS and FY2026 earnings at $0.10 EPS.

Several other research firms also recently weighed in on LAR. National Bankshares upgraded Lithium Americas (Argentina) from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $2.90 to $4.50 in a research report on Tuesday, August 12th. National Bank Financial upgraded Lithium Americas (Argentina) from a "hold" rating to a "strong-buy" rating in a report on Monday, August 11th. Finally, BMO Capital Markets lifted their price objective on Lithium Americas (Argentina) from $2.50 to $4.00 and gave the company a "market perform" rating in a report on Tuesday, August 12th.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAR traded down $0.03 on Wednesday, hitting $3.29. 1,415,463 shares of the company's stock were exchanged, compared to its average volume of 1,143,181. Lithium Americas has a 12 month low of $1.71 and a 12 month high of $3.96. The company has a market capitalization of $532.65 million and a PE ratio of -29.91. The stock's 50 day simple moving average is $2.52.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Lithium Americas (Argentina) in the first quarter worth about $9,308,000. Hancock Prospecting Pty Ltd bought a new position in Lithium Americas (Argentina) in the first quarter worth about $5,368,000. CenterBook Partners LP bought a new position in Lithium Americas (Argentina) in the first quarter worth about $4,613,000. Woodline Partners LP bought a new position in Lithium Americas (Argentina) in the first quarter worth about $3,456,000. Finally, Invesco Ltd. bought a new position in Lithium Americas (Argentina) in the first quarter worth about $3,307,000. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Company Profile

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.