Lithium Americas Corp. to Post FY2024 Earnings of ($0.17) Per Share, Cormark Forecasts (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) – Analysts at Cormark cut their FY2024 EPS estimates for Lithium Americas in a research report issued on Wednesday, April 24th. Cormark analyst M. Whale now anticipates that the company will post earnings of ($0.17) per share for the year, down from their prior estimate of ($0.10). The consensus estimate for Lithium Americas’ current full-year earnings is ($0.15) per share.

Lithium Americas (NYSE:LAC) last announced its quarterly earnings results on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08).

Other analysts have also issued research reports about the stock. Scotiabank lowered shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. HSBC dropped their price target on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating on the stock in a research report on Friday, April 19th. Evercore ISI dropped their price target on shares of Lithium Americas from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Lithium Americas from $5.50 to $7.00 and gave the stock a “neutral” rating in a research report on Monday, March 18th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.18.

Lithium Americas Price Performance

Shares of LAC stock opened at $4.44 on Monday. The company’s fifty day simple moving average is $5.79 and its 200-day simple moving average is $5.99. Lithium Americas has a 12 month low of $3.81 and a 12 month high of $12.38.

Institutional Investors Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently bought and sold shares of LAC. Banque Cantonale Vaudoise bought a new stake in Lithium Americas during the first quarter worth about $25,000. Mather Group LLC. bought a new stake in Lithium Americas during the first quarter worth about $26,000. Allworth Financial LP bought a new stake in Lithium Americas during the fourth quarter worth about $37,000. CWM LLC lifted its holdings in shares of Lithium Americas by 140.6% in the third quarter. CWM LLC now owns 2,327 shares of the company’s stock worth $40,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Operose Advisors LLC acquired a new stake in shares of Lithium Americas in the 3rd quarter valued at approximately $44,000.

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.