Lithium Americas (Argentina) (NYSE:LAR) Earns “Sector Perform” Rating from Scotiabank

Lithium Americas (Argentina) (NYSE:LAR)‘s stock had its “sector perform” rating reaffirmed by investment analysts at Scotiabank in a report issued on Wednesday,Benzinga reports. They currently have a $3.50 price objective on the stock, up from their previous price objective of $3.00. Scotiabank’s price target indicates a potential upside of 4.17% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Lithium Americas (Argentina) from $2.50 to $4.00 and gave the stock a “market perform” rating in a research note on Tuesday. National Bank Financial raised shares of Lithium Americas (Argentina) from a “hold” rating to a “strong-buy” rating in a research note on Monday. Finally, National Bankshares raised shares of Lithium Americas (Argentina) from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $2.90 to $4.50 in a research note on Tuesday.

Lithium Americas (Argentina) Trading Down 2.9%

Shares of LAR stock opened at $3.36 on Wednesday. The company has a fifty day simple moving average of $2.49. Lithium Americas has a 52 week low of $1.71 and a 52 week high of $3.96.

Lithium Americas (Argentina) (NYSE:LAR) last issued its earnings results on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.03). On average, equities analysts expect that Lithium Americas will post -0.05 earnings per share for the current year.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC purchased a new stake in Lithium Americas (Argentina) during the 2nd quarter worth $28,000. Sandhill Capital Partners LLC acquired a new position in Lithium Americas (Argentina) during the 1st quarter worth $29,000. JPMorgan Chase & Co. acquired a new position in Lithium Americas (Argentina) during the 2nd quarter worth $37,000. HighTower Advisors LLC acquired a new position in Lithium Americas (Argentina) during the 1st quarter worth $40,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Lithium Americas (Argentina) during the 1st quarter worth $41,000. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.