Equities Analysts Set Expectations for LAC FY2024 Earnings

Lithium Americas Corp. (NYSE:LAC - Free Report) - Equities researchers at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst B. Isaacson anticipates that the company will earn ($0.07) per share for the year. Scotiabank currently has a "Sector Perform" rating and a $2.50 target price on the stock. The consensus estimate for Lithium Americas' current full-year earnings is ($0.10) per share. Scotiabank also issued estimates for Lithium Americas' FY2025 earnings at ($0.01) EPS and FY2026 earnings at ($0.10) EPS.

A number of other equities research analysts also recently issued reports on the stock. Wedbush initiated coverage on shares of Lithium Americas in a research report on Thursday, December 19th. They issued a "neutral" rating and a $5.00 price objective for the company. Piper Sandler reduced their price objective on shares of Lithium Americas from $3.90 to $3.50 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets raised shares of Lithium Americas to a "hold" rating in a research report on Wednesday, October 23rd. National Bank Financial upgraded shares of Lithium Americas from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 17th. Finally, B. Riley upped their price target on shares of Lithium Americas from $4.50 to $5.00 and gave the company a "buy" rating in a research note on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Lithium Americas currently has an average rating of "Hold" and a consensus target price of $5.51.

Lithium Americas Trading Up 2.2 %

LAC stock traded up $0.07 during midday trading on Monday, hitting $3.21. The stock had a trading volume of 4,201,197 shares, compared to its average volume of 4,987,236. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $7.71. The firm has a market cap of $708.40 million, a P/E ratio of -26.75 and a beta of 1.67. The business has a fifty day moving average price of $3.55 and a two-hundred day moving average price of $3.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LAC. Marshall Wace LLP purchased a new position in Lithium Americas in the 2nd quarter valued at approximately $10,252,000. Point72 Asset Management L.P. raised its position in Lithium Americas by 580.1% in the second quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company's stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the period. Teamwork Financial Advisors LLC raised its position in Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company's stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period. Merewether Investment Management LP purchased a new position in Lithium Americas in the second quarter valued at about $858,000. Finally, HITE Hedge Asset Management LLC purchased a new stake in shares of Lithium Americas during the third quarter worth about $787,000.

About Lithium Americas

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.