B. Riley Forecasts Lithium Americas’ Q3 Earnings (TSE:LAC)

Lithium Americas Corp. (TSE:LAC) – B. Riley dropped their Q3 2024 earnings estimates for shares of Lithium Americas in a report released on Thursday, October 17th. B. Riley analyst M. Key now expects that the company will post earnings per share of ($0.04) for the quarter, down from their prior estimate of ($0.03). The consensus estimate for Lithium Americas’ current full-year earnings is $1.38 per share. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.16) EPS, FY2025 earnings at ($0.51) EPS and FY2026 earnings at ($0.67) EPS.

A number of other equities research analysts also recently weighed in on LAC. National Bank Financial raised Lithium Americas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. National Bankshares upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from C$5.75 to C$7.25 in a report on Thursday, October 17th. Finally, Piper Sandler cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$9.08.

Lithium Americas Price Performance

Shares of TSE:LAC opened at C$4.15 on Monday. The firm has a market cap of C$904.70 million, a price-to-earnings ratio of -25.94 and a beta of 1.58. Lithium Americas has a 1 year low of C$2.87 and a 1 year high of C$10.75. The company has a current ratio of 20.15, a quick ratio of 52.06 and a debt-to-equity ratio of 0.69. The business has a fifty day simple moving average of C$3.49 and a 200 day simple moving average of C$4.66.

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).

Insider Transactions at Lithium Americas

In other Lithium Americas news, Senior Officer Oleksandr Shulga sold 24,862 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$3.40, for a total transaction of C$84,530.80. 7.40% of the stock is currently owned by corporate insiders.

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.