Research Analysts Set Expectations for Lithium Americas (Argentina) Corp.’s Q3 2024 Earnings (NYSE:LAAC)

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Equities researchers at B. Riley reduced their Q3 2024 earnings estimates for Lithium Americas (Argentina) in a research report issued on Friday, August 16th. B. Riley analyst M. Key now expects that the company will post earnings of ($0.01) per share for the quarter, down from their prior estimate of $0.02. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is $0.07 per share. B. Riley also issued estimates for Lithium Americas (Argentina)’s Q4 2024 earnings at $0.01 EPS and FY2026 earnings at $0.48 EPS.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus dropped their price objective on shares of Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. National Bankshares set a $6.00 target price on shares of Lithium Americas (Argentina) and gave the company a “sector perform” rating in a report on Thursday, June 6th. Hsbc Global Res upgraded shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a report on Wednesday, August 14th. Finally, Scotiabank decreased their target price on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.21.

Lithium Americas (Argentina) Stock Down 3.4 %

LAAC stock opened at $2.55 on Monday. The stock has a market capitalization of $411.14 million, a P/E ratio of 0.32 and a beta of 1.35. The firm has a 50-day simple moving average of $3.07 and a 200-day simple moving average of $4.21. Lithium Americas has a 52 week low of $2.26 and a 52 week high of $8.79.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently made changes to their positions in the stock. General Motors Holdings LLC acquired a new stake in shares of Lithium Americas (Argentina) in the first quarter worth $80,862,000. FIFTHDELTA Ltd acquired a new stake in shares of Lithium Americas (Argentina) in the fourth quarter worth $32,598,000. Vanguard Group Inc. grew its holdings in Lithium Americas (Argentina) by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock valued at $19,191,000 after purchasing an additional 21,456 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Lithium Americas (Argentina) during the 2nd quarter valued at $10,465,000. Finally, Van ECK Associates Corp grew its holdings in Lithium Americas (Argentina) by 13.2% during the 2nd quarter. Van ECK Associates Corp now owns 2,614,946 shares of the company’s stock valued at $8,366,000 after purchasing an additional 304,590 shares in the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

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.