B. Riley Expects Reduced Earnings for Lithium Americas

Lithium Americas Corp. (NYSE:LAC) – Equities researchers at B. Riley cut their Q3 2024 earnings per share estimates for Lithium Americas in a report issued on Thursday, October 17th. B. Riley analyst M. Key now anticipates that the company will post earnings of ($0.03) per share for the quarter, down from their prior estimate of ($0.02). B. Riley currently has a “Buy” rating and a $4.00 target price on the stock. The consensus estimate for Lithium Americas’ current full-year earnings is ($0.09) per share. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.12) EPS, FY2025 earnings at ($0.37) EPS and FY2026 earnings at ($0.49) EPS.

Lithium Americas (NYSE:LAC) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02).

A number of other research firms also recently commented on LAC. Deutsche Bank Aktiengesellschaft decreased their target price on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research report on Friday, August 16th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler began coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 price target for the company. Finally, Scotiabank dropped their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Lithium Americas currently has an average rating of “Moderate Buy” and an average target price of $5.50.

Lithium Americas Stock Up 10.5 %

Shares of LAC stock opened at $3.33 on Monday. The business’s fifty day moving average price is $2.59 and its 200 day moving average price is $3.27. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $7.86.

Institutional Investors Weigh In On Lithium Americas

A number of large investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in shares of Lithium Americas by 194.1% in the third quarter. International Assets Investment Management LLC now owns 33,008 shares of the company’s stock valued at $89,000 after buying an additional 21,783 shares in the last quarter. Sterling Investment Counsel LLC acquired a new stake in shares of Lithium Americas in the third quarter valued at about $75,000. Signaturefd LLC grew its stake in shares of Lithium Americas by 1,450.5% in the third quarter. Signaturefd LLC now owns 30,995 shares of the company’s stock valued at $84,000 after buying an additional 28,996 shares in the last quarter. Koss Olinger Consulting LLC grew its stake in shares of Lithium Americas by 41.8% in the third quarter. Koss Olinger Consulting LLC now owns 129,211 shares of the company’s stock valued at $349,000 after buying an additional 38,062 shares in the last quarter. Finally, Teamwork Financial Advisors LLC grew its stake in shares of Lithium Americas by 2,274.3% in the third quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after buying an additional 381,965 shares in 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.