What is Scotiabank’s Estimate for LAC FY2024 Earnings?

Lithium Americas Corp. (NYSE:LAC) – Equities researchers at Scotiabank issued their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a 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.

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

Lithium Americas Price Performance

Shares of LAC stock opened at $3.14 on Monday. The stock’s fifty day simple moving average is $3.55 and its 200 day simple moving average is $3.01. Lithium Americas has a one year low of $2.02 and a one year high of $7.71. The firm has a market cap of $692.95 million, a price-to-earnings ratio of -26.17 and a beta of 1.67.

Institutional Investors Weigh In On Lithium Americas

Several hedge funds and other institutional investors have recently made changes to their positions in LAC. Marshall Wace LLP bought a new position in Lithium Americas in the second quarter valued at about $10,252,000. Point72 Asset Management L.P. lifted its position in Lithium Americas by 580.1% during the 2nd 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 boosted its stake in shares of Lithium Americas by 2,274.3% in the 3rd 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 last quarter. Tidal Investments LLC grew its position in shares of Lithium Americas by 31.8% during the 3rd quarter. Tidal Investments LLC now owns 379,078 shares of the company’s stock worth $1,024,000 after buying an additional 91,353 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Lithium Americas by 41.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 373,380 shares of the company’s stock worth $1,008,000 after buying an additional 108,993 shares during the last quarter.

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.