Lithium Argentina (NYSE:LAR) Given New $3.00 Price Target at Scotiabank

Lithium Argentina (NYSE:LAR) had its price objective decreased by stock analysts at Scotiabank from $3.50 to $3.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s price objective would indicate a potential upside of 56.25% from the stock’s previous close.

Separately, National Bankshares decreased their price target on shares of Lithium Argentina from $3.75 to $3.50 and set a “sector perform” rating for the company in a research note on Wednesday, March 19th.

Lithium Argentina Stock Performance

NYSE:LAR opened at $1.92 on Tuesday. The stock has a 50-day moving average of $2.10. The stock has a market cap of $310.85 million, a PE ratio of 0.25 and a beta of 1.36. Lithium Argentina has a 12 month low of $1.73 and a 12 month high of $5.09.

Lithium Argentina (NYSE:LAR) last issued its quarterly 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). On average, equities research analysts expect that Lithium Argentina will post -0.05 earnings per share for the current fiscal year.

Institutional Trading of Lithium Argentina

Several institutional investors have recently added to or reduced their stakes in LAR. Sandhill Capital Partners LLC bought a new stake in shares of Lithium Argentina in the first quarter worth $29,000. HighTower Advisors LLC bought a new stake in shares of Lithium Argentina during the 1st quarter valued at about $40,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Lithium Argentina during the 1st quarter valued at about $41,000. McCarthy Asset Management Inc. bought a new position in shares of Lithium Argentina in the 1st quarter worth approximately $42,000. Finally, Banco Santander S.A. bought a new position in shares of Lithium Argentina in the 1st quarter worth approximately $46,000. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium 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.