FY2024 Earnings Estimate for Lithium Americas Corp. (NYSE:LAC) Issued By Cormark

Lithium Americas Corp. (NYSE:LAC) – Equities research analysts at Cormark decreased their FY2024 earnings 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 forecast of ($0.10). The consensus estimate for Lithium Americas’ current full-year earnings is ($0.15) per share.

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

Lithium Americas Stock Up 4.5 %

NYSE LAC opened at $4.62 on Monday. The company has a fifty day simple moving average of $5.78 and a 200 day simple moving average of $6.05. Lithium Americas has a 1 year low of $3.81 and a 1 year high of $12.38.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Friday, March 15th. The company reported ($0.08) earnings per share for the quarter, meeting the consensus estimate of ($0.08).

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Lithium Americas by 1.1% in the third quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock valued at $60,116,000 after purchasing an additional 39,419 shares during the last quarter. Dynamic Advisor Solutions LLC raised its holdings in shares of Lithium Americas by 3.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company’s stock valued at $368,000 after purchasing an additional 2,126 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Lithium Americas by 82.6% in the third quarter. LPL Financial LLC now owns 223,701 shares of the company’s stock valued at $3,805,000 after purchasing an additional 101,174 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Lithium Americas in the fourth quarter valued at approximately $37,000. Finally, Mutual Advisors LLC raised its holdings in shares of Lithium Americas by 37.1% in the fourth quarter. Mutual Advisors LLC now owns 52,073 shares of the company’s stock valued at $333,000 after purchasing an additional 14,101 shares during the last quarter.

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.