LTM enters the final week of June riding a 15% gain over the past month, a move that puts the Santiago-listed carrier at the top of a broadly rising global airline cohort — and the question now is whether that run reflects genuine re-rating or simply a tide lifting all boats.
The peer group context matters here. UAL climbed 15% on the week, AF rose 12%, and LHA added 8%. LATAM's own 7% weekly gain keeps pace with that pack rather than leading it. RYA and CPA added 5-6% each. The coordinated move across carriers suggests a sector-wide repricing — likely on fuel costs or demand signals — rather than a LATAM-specific catalyst. That distinction matters for assessing how durable the run is.
What does stand out is LATAM's internal score momentum. The ORTEX stock score has climbed to 81.2, its highest reading in six months, driven almost entirely by a jump in the momentum component from around 56 to 69. The quality and growth pillars are independently strong — a near-perfect Piotroski F-score of 9, ROA of 9.4%, and annual sales growth of 16% — and those haven't needed to move to lift the composite. The utilization rank sits at the 91st percentile and the short score rank at the 87th, both consistent with a stock the market is broadly comfortable holding rather than aggressively fading.
Short positioning is effectively absent. Utilization has flatlined at zero across every trading day in the past six weeks, meaning there is no meaningful borrowed stock in the lending pool. Cost-to-borrow data for this listing is stale — the most recent reliable reading dates to mid-2022 — so the borrow market is best described as inactive rather than tight. With no discernible short interest and no options data available for this listing, there is no positioning tension to read into. The market is simply long and momentum-driven.
Ownership is stable but has seen one notable move. Lauca Investments, the largest holder at 13.2% of shares, reported a reduction of 24 billion shares as of February 2026 — a disposal valued at roughly $745 million. That sale has already cleared the register without apparent lasting damage to the price, and the remaining top holders — including DAL at 10.6% and Qatar Airways at 10.6% — have held flat. BlackRock added modestly through May. The analyst mean price target in the data carries a currency note: the figure reported is 0.0346, which appears inconsistent with a CLP-denominated stock trading near 26.97 CLP. That data point is omitted here as likely a currency or scale mismatch.
Earnings are next due on August 5. The most recent print in May produced a sharp single-day gain of around 11%, extending into a 5% five-day gain — a reaction that confirmed the Q1 beat narrative. The prior event in early May 2026 logged an identical pattern. Whether the August Q2 release delivers comparable upside depends on whether the sector tailwinds visible in this week's peer moves carry through into the summer travel season data. That report, and any shifts in regional fuel costs or Chilean peso dynamics, is where the next meaningful inflection for this stock will come from.
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