Cormark Weighs in on Lithium Americas Corp.'s FY2024 Earnings (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC - Free Report) - Equities research analysts at Cormark lifted their FY2024 earnings per share estimates for Lithium Americas in a research note issued on Wednesday, August 21st. Cormark analyst M. Whale now forecasts that the company will post earnings of ($0.13) per share for the year, up from their prior forecast of ($0.17). The consensus estimate for Lithium Americas' current full-year earnings is ($0.09) per share. Cormark also issued estimates for Lithium Americas' FY2025 earnings at ($0.13) EPS.

Other equities research analysts have also issued reports about the stock. B. Riley lowered their price target on shares of Lithium Americas from $4.50 to $4.00 and set a "buy" rating for the company in a report on Friday, August 16th. Piper Sandler began coverage on Lithium Americas in a research note on Monday, July 29th. They set a "neutral" rating and a $3.90 target price for the company. National Bank Financial upgraded Lithium Americas to a "hold" rating in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft reduced their price target on Lithium Americas from $3.00 to $2.50 and set a "hold" rating for the company in a report on Friday, August 16th. Finally, Scotiabank dropped their price objective on Lithium Americas from $5.50 to $3.00 and set a "sector perform" rating on the stock in a report on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $6.61.

Lithium Americas Stock Up 1.5 %

NYSE LAC traded up $0.04 on Monday, reaching $2.76. The company had a trading volume of 2,066,187 shares, compared to its average volume of 4,211,761. The firm has a 50-day moving average of $2.64 and a 200-day moving average of $4.14. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $12.38.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Lithium Americas during the fourth quarter worth about $71,000. Intact Investment Management Inc. acquired a new stake in shares of Lithium Americas during the 4th quarter worth approximately $595,000. Van ECK Associates Corp lifted its holdings in shares of Lithium Americas by 22.2% in the 4th quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company's stock worth $13,015,000 after purchasing an additional 369,879 shares during the last quarter. Jump Financial LLC acquired a new position in Lithium Americas during the 4th quarter valued at approximately $71,000. Finally, Formidable Asset Management LLC grew its stake in Lithium Americas by 1.0% during the 4th quarter. Formidable Asset Management LLC now owns 491,678 shares of the company's stock worth $3,147,000 after buying an additional 4,775 shares during 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.