Stifel Canada Expects Reduced Earnings for Lithium Americas

Lithium Americas Corp. (TSE:LAC) – Research analysts at Stifel Canada cut their FY2024 EPS estimates for shares of Lithium Americas in a note issued to investors on Wednesday, October 16th. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings per share of ($0.11) for the year, down from their prior forecast of ($0.05). The consensus estimate for Lithium Americas’ current full-year earnings is $1.38 per share. Stifel Canada also issued estimates for Lithium Americas’ FY2025 earnings at ($0.04) EPS, FY2026 earnings at ($0.05) EPS and FY2027 earnings at $0.07 EPS.

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Tuesday, August 13th. The company reported C($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.03) by C($0.04).

Other equities analysts also recently issued research reports about the company. National Bank Financial upgraded Lithium Americas from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Piper Sandler downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a report on Monday, July 29th. Finally, National Bankshares raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from C$5.75 to C$7.25 in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Lithium Americas currently has an average rating of “Buy” and a consensus price target of C$9.08.

Lithium Americas Stock Performance

Shares of LAC stock opened at C$4.58 on Monday. The firm has a market cap of C$998.44 million, a P/E ratio of -28.63 and a beta of 1.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 20.15 and a quick ratio of 52.06. Lithium Americas has a fifty-two week low of C$2.87 and a fifty-two week high of C$10.75. The stock’s 50-day moving average is C$3.53 and its two-hundred day moving average is C$4.62.

Insiders Place Their Bets

In other news, Senior Officer Oleksandr Shulga sold 24,862 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$3.40, for a total value of C$84,530.80. Company insiders own 7.40% of the company’s stock.

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.