Lithium Americas (Argentina) Corp. (NYSE:LAAC) Forecasted to Post Q2 2024 Earnings of $0.00 Per Share

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) - Investment analysts at B. Riley issued their Q2 2024 earnings per share estimates for shares of Lithium Americas (Argentina) in a research report issued to clients and investors on Wednesday, July 31st. B. Riley analyst M. Key forecasts that the company will post earnings of $0.00 per share for the quarter. The consensus estimate for Lithium Americas (Argentina)'s current full-year earnings is $0.13 per share. B. Riley also issued estimates for Lithium Americas (Argentina)'s Q4 2024 earnings at $0.04 EPS.

LAAC has been the subject of several other reports. Stifel Nicolaus cut their price target on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a "buy" rating for the company in a report on Tuesday, May 21st. National Bankshares set a $6.00 target price on Lithium Americas (Argentina) and gave the stock a "sector perform" rating in a research report on Thursday, June 6th. Finally, National Bank Financial upgraded Lithium Americas (Argentina) to a "hold" rating in a research note on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $8.83.

Lithium Americas (Argentina) Price Performance

Shares of NYSE:LAAC traded down $0.31 during trading on Thursday, hitting $2.72. 1,661,194 shares of the company were exchanged, compared to its average volume of 1,478,176. Lithium Americas has a 52-week low of $2.71 and a 52-week high of $8.79. The stock has a 50 day moving average of $3.55 and a 200 day moving average of $4.42. The company has a market cap of $437.74 million, a PE ratio of 0.34 and a beta of 1.35.

Lithium Americas (Argentina) (NYSE:LAAC - Get Free Report) last announced its quarterly earnings data on Monday, May 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.10). During the same quarter last year, the company posted ($0.04) earnings per share.

Institutional Trading of Lithium Americas (Argentina)

Several large investors have recently added to or reduced their stakes in the stock. Mather Group LLC. purchased a new position in shares of Lithium Americas (Argentina) during the 1st quarter worth approximately $27,000. Allworth Financial LP bought a new position in shares of Lithium Americas (Argentina) in the 4th quarter worth about $32,000. Fifth Third Bancorp increased its stake in shares of Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company's stock worth $32,000 after acquiring an additional 4,000 shares in the last quarter. Scarborough Advisors LLC bought a new stake in Lithium Americas (Argentina) during the fourth quarter worth about $53,000. Finally, Teamwork Financial Advisors LLC purchased a new stake in Lithium Americas (Argentina) in the first quarter worth about $54,000. Institutional investors own 49.17% of the company's stock.

Lithium Americas (Argentina) Company Profile

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.