Cormark Equities Analysts Cut Earnings Estimates for LAAC

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) - Equities research analysts at Cormark lowered their FY2024 earnings per share (EPS) estimates for Lithium Americas (Argentina) in a research note issued to investors on Thursday, November 7th. Cormark analyst M. Whale now anticipates that the company will post earnings of ($0.09) per share for the year, down from their prior forecast of $0.05. The consensus estimate for Lithium Americas (Argentina)'s current full-year earnings is ($0.06) per share. Cormark also issued estimates for Lithium Americas (Argentina)'s FY2025 earnings at $0.22 EPS.

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).

Several other equities analysts have also recently weighed in on the stock. HSBC upgraded shares of Lithium Americas (Argentina) from a "hold" rating to a "buy" rating in a research report on Wednesday, August 14th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a "strong-buy" rating in a report on Wednesday, August 14th. Finally, Scotiabank lowered their price objective 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. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lithium Americas (Argentina) presently has an average rating of "Moderate Buy" and a consensus price target of $7.05.

Lithium Americas (Argentina) Trading Up 5.6 %

Shares of LAAC traded up $0.18 during midday trading on Monday, hitting $3.42. The stock had a trading volume of 1,105,195 shares, compared to its average volume of 1,521,179. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $6.69. The business has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $3.48. The firm has a market cap of $553.77 million, a P/E ratio of 0.44 and a beta of 1.33.

Institutional Investors Weigh In On Lithium Americas (Argentina)

Large investors have recently added to or reduced their stakes in the stock. General Motors Holdings LLC bought a new stake in shares of Lithium Americas (Argentina) in the first quarter valued at approximately $80,862,000. William Blair Investment Management LLC bought a new stake in Lithium Americas (Argentina) in the 2nd quarter valued at $10,465,000. M&G Plc acquired a new stake in Lithium Americas (Argentina) in the 1st quarter worth $5,944,000. Van ECK Associates Corp raised its position in shares of Lithium Americas (Argentina) by 16.3% during the third quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company's stock valued at $10,615,000 after buying an additional 426,419 shares during the last quarter. Finally, Decade Renewable Partners LP lifted its stake in shares of Lithium Americas (Argentina) by 102.7% in the second quarter. Decade Renewable Partners LP now owns 547,625 shares of the company's stock valued at $1,752,000 after buying an additional 277,500 shares during the period. Institutional investors own 49.17% of the company's stock.

About Lithium Americas (Argentina)

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.