Lithium Americas Corp. to Post FY2024 Earnings of ($0.19) Per Share, National Bank Financial Forecasts (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) – Equities researchers at National Bank Financial issued their FY2024 earnings estimates for shares of Lithium Americas in a research report issued on Wednesday, June 5th. National Bank Financial analyst M. Sidibe expects that the company will post earnings per share of ($0.19) for the year. National Bank Financial currently has a “Hold” rating on the stock. The consensus estimate for Lithium Americas’ current full-year earnings is ($0.10) per share. National Bank Financial also issued estimates for Lithium Americas’ FY2025 earnings at ($0.03) EPS, FY2026 earnings at ($0.04) EPS and FY2027 earnings at ($0.11) EPS.

LAC has been the subject of a number of other reports. Scotiabank cut shares of Lithium Americas from a “sector outperform” rating to a “sector perform” rating and lowered their price target for the company from $15.00 to $7.00 in a research report on Monday, March 18th. Eight Capital lowered their price target on shares of Lithium Americas from $13.50 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, May 14th. HSBC lowered their price target on shares of Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a research report on Friday, April 19th. Evercore ISI reduced their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective 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. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.46.

Lithium Americas Price Performance

Shares of NYSE LAC opened at $3.04 on Monday. Lithium Americas has a 1 year low of $2.98 and a 1 year high of $12.38. The firm has a 50-day moving average of $4.85 and a 200 day moving average of $5.34.

Lithium Americas (NYSE:LAC) last issued its quarterly earnings results on Monday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04).

Institutional Trading of Lithium Americas

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC grew its position in Lithium Americas by 83.4% during the first quarter. Virtu Financial LLC now owns 62,252 shares of the company’s stock valued at $418,000 after buying an additional 28,305 shares during the period. Tidal Investments LLC grew its position in Lithium Americas by 51.9% during the first quarter. Tidal Investments LLC now owns 253,303 shares of the company’s stock valued at $1,705,000 after buying an additional 86,570 shares during the period. Toronto Dominion Bank lifted its holdings in Lithium Americas by 327.7% during the first quarter. Toronto Dominion Bank now owns 21,862 shares of the company’s stock valued at $147,000 after purchasing an additional 16,751 shares in the last quarter. SageView Advisory Group LLC purchased a new position in Lithium Americas during the first quarter valued at approximately $190,000. Finally, Fortis Capital Advisors LLC purchased a new position in Lithium Americas during the first quarter valued at approximately $216,000.

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.