Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) - Investment analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for Lithium Americas (Argentina) in a research note issued to investors on Thursday, November 7th. B. Riley analyst M. Key now forecasts that the company will post earnings per share of ($0.09) for the year, down from their prior estimate of ($0.06). The consensus estimate for Lithium Americas (Argentina)'s current full-year earnings is ($0.06) per share. B. Riley also issued estimates for Lithium Americas (Argentina)'s Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.13 EPS.
Other equities analysts have also recently issued research reports about the company. HSBC upgraded Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a report on Wednesday, August 14th. Scotiabank cut their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a "sector outperform" rating on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Lithium Americas (Argentina) to a "strong-buy" rating in a research note on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $7.05.
Read Our Latest Stock Analysis on Lithium Americas (Argentina)
Lithium Americas (Argentina) Trading Up 5.6 %
Shares of Lithium Americas (Argentina) stock traded up $0.18 during midday trading on Monday, reaching $3.42. The company had a trading volume of 1,105,195 shares, compared to its average volume of 1,521,179. The stock has a fifty day simple moving average of $3.11 and a 200 day simple moving average of $3.48. Lithium Americas has a 1-year low of $2.07 and a 1-year high of $6.69. The company has a market capitalization of $553.77 million, a price-to-earnings ratio of 0.44 and a beta of 1.33.
Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.02).
Institutional Investors Weigh In On Lithium Americas (Argentina)
Several institutional investors have recently added to or reduced their stakes in the stock. Apollon Wealth Management LLC raised its holdings in shares of Lithium Americas (Argentina) by 25.8% in the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company's stock valued at $93,000 after purchasing an additional 5,870 shares during the last quarter. General Motors Holdings LLC acquired a new stake in Lithium Americas (Argentina) in the 3rd quarter valued at $48,907,000. M&G PLC boosted its stake in shares of Lithium Americas (Argentina) by 11.2% during the 3rd quarter. M&G PLC now owns 1,530,176 shares of the company's stock worth $4,591,000 after buying an additional 154,067 shares during the last quarter. Old West Investment Management LLC grew its holdings in shares of Lithium Americas (Argentina) by 193.6% in the 3rd quarter. Old West Investment Management LLC now owns 98,032 shares of the company's stock valued at $320,000 after acquiring an additional 64,646 shares in the last quarter. Finally, Intact Investment Management Inc. raised its holdings in Lithium Americas (Argentina) by 47.3% during the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company's stock worth $1,671,000 after acquiring an additional 163,800 shares in the last quarter. 49.17% of the stock is owned by institutional investors.
About Lithium Americas (Argentina)
(
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Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.
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