Lithium Argentina AG

LAR · NYSE

$4.24+$0.06 (+1.44%)TodayMarket closed · Oct 23, 7:30 PM ET

Prev close $4.18

LAR analyst rating

BuyConsensus of 2 analysts over the last 12 months. 100% rate it a buy.

Strong buy0
Buy2
Hold0
Underperform0
Sell0

12-month price target · 9 analysts

Average $11.96 (+182.0% upside)

Low: $8.08
Now: $4.24
High: $20.79

Upgrades and downgrades

The latest rating actions, newest first

LAR analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Scotiabank	Aug 12, 2026	Maintains	Sector Outperform	$10.00 → $9.50	37%
Scotiabank	Jul 28, 2026	Maintains	Sector Outperform	$11.00 → $10.00	37%
Scotiabank	May 15, 2026	Maintains	Sector Outperform	$8.50 → $11.00	37%
Scotiabank	Apr 6, 2026	Maintains	Sector Outperform	$7.75 → $8.50	37%
TD Securities	Mar 24, 2026	Maintains	Buy	$7.00 → $9.00	50%
Scotiabank	Jan 12, 2026	Upgrade	Sector Perform → Sector Outperform	$4.25 → $7.75	37%
Scotiabank	Nov 12, 2025	Maintains	Sector Perform	$3.50 → $4.25	37%

The case for and against

Updated Oct 23, 2026

Bull case

Lithium Argentina is favored for its exceptional operating execution, having achieved a 97% operating rate while staying on track for 35k to 40k mt LCE in the year and delivering cash costs below $5,400/mt, which supports first-quartile producer status. The company also generated strong Q2 free cash flow, helping cut JV net debt 45% q/q to $142M, while its cash operating margin remained robust at 70% even with Q2 production of 9.3k mt and sales of 8.9k mt. Beyond current operations, it has multiple value-creating catalysts in motion, including de-bottlenecking at Cauchari 1, a 45k mt LCE Cauchari 2 scoping study, and permitting progress on PPG with RIGI approval expected by year-end.

Bear case

Lithium Argentina is exposed to significant execution risk at Cauchari-Olaroz, where continued ramp-up could face delays, cost overruns, and operational setbacks that would threaten the project’s ability to reach battery-grade lithium carbonate production. If that milestone is not achieved, the company’s NAV would be at material risk, while weak lithium prices and uncertainty over market growth could leave the industry in persistent oversupply and pressure returns. Added geopolitical and FX risks in Argentina, including unexpected taxes, royalties, fees, or equity claims, along with possible capital controls and a breakdown in the relationship with Ganfeng, further weaken the fundamental outlook.

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