Lithium Argentina (NYSE:LAR) Price Target Lowered to $3.00 at Scotiabank

Lithium Argentina (NYSE:LAR) had its price objective lowered by analysts at Scotiabank from $3.50 to $3.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s target price 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 on the stock in a research note on Wednesday, March 19th.

Lithium Argentina Trading Down 1.5%

LAR opened at $1.92 on Tuesday. The company has a fifty day moving average price of $2.10. Lithium Argentina has a 52 week low of $1.73 and a 52 week high of $5.09. The company has a market capitalization of $310.85 million, a PE ratio of 0.25 and a beta of 1.36.

Lithium Argentina (NYSE:LAR) last announced its quarterly earnings data on Wednesday, May 14th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). As a group, equities research analysts predict that Lithium Argentina will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Lithium Argentina

Several institutional investors have recently bought and sold shares of the stock. Woodline Partners LP bought a new stake in Lithium Argentina in the first quarter valued at approximately $3,456,000. Hancock Prospecting Pty Ltd bought a new stake in Lithium Argentina in the 1st quarter worth $5,368,000. Goldman Sachs Group Inc. purchased a new position in shares of Lithium Argentina in the first quarter valued at about $1,064,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Lithium Argentina during the first quarter valued at about $9,308,000. Finally, Royal Bank of Canada purchased a new stake in shares of Lithium Argentina during the first quarter worth about $572,000. 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.