FY2024 EPS Estimate for Lithium Americas Reduced by Analyst

Lithium Americas Corp. (NYSE:LAC - Free Report) - Analysts at B. Riley decreased their FY2024 EPS estimates for Lithium Americas in a research note issued to investors on Tuesday, November 12th. B. Riley analyst M. Key now expects that the company will post earnings of ($0.13) per share for the year, down from their previous forecast of ($0.12). B. Riley has a "Buy" rating and a $5.00 price objective on the stock. The consensus estimate for Lithium Americas' current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Lithium Americas' Q4 2024 earnings at ($0.02) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.48) EPS.

LAC has been the subject of several other reports. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a report on Wednesday, October 23rd. Piper Sandler began coverage on shares of Lithium Americas in a report on Monday, July 29th. They issued a "neutral" rating and a $3.90 price target for the company. National Bank Financial raised shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 17th. Scotiabank reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "sector perform" rating for the company in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a report on Friday, August 16th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $5.63.

Lithium Americas Price Performance

Shares of NYSE LAC traded down $0.24 during trading hours on Thursday, hitting $3.98. 7,378,506 shares of the stock were exchanged, compared to its average volume of 5,399,160. The company's 50 day moving average is $3.07 and its 200 day moving average is $3.08. The firm has a market capitalization of $878.25 million and a P/E ratio of -33.17. Lithium Americas has a one year low of $2.02 and a one year high of $7.86.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.02).

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Lithium Americas by 69.8% during the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company's stock worth $10,591,000 after purchasing an additional 1,625,149 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Lithium Americas during the 2nd quarter worth about $10,252,000. Point72 Asset Management L.P. increased its position in shares of Lithium Americas by 580.1% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company's stock worth $4,977,000 after purchasing an additional 1,584,123 shares in the last quarter. Teamwork Financial Advisors LLC increased its position in shares of Lithium Americas by 2,274.3% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock worth $1,077,000 after purchasing an additional 381,965 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Lithium Americas by 41.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company's stock worth $1,008,000 after purchasing an additional 108,993 shares in the last quarter.

Lithium Americas Company Profile

Lithium Americas Corp. engages in the exploration and development of lithium properties in the United States and Canada. It holds a 100% interest in the Thacker Pass project located in northern Nevada, as well as investments in exploration properties in the United States and Canada. Lithium Americas Corp.