B. Riley Predicts Lower Earnings for Lithium Americas

Lithium Americas Corp. (NYSE:LAC) – Research analysts at B. Riley decreased their FY2024 EPS estimates for shares of Lithium Americas in a research note issued on Tuesday, November 12th. B. Riley analyst M. Key now anticipates that the company will earn ($0.13) per share for the year, down from their previous estimate of ($0.12). B. Riley currently has a “Buy” rating and a $5.00 target price on the stock. The consensus estimate for Lithium Americas’ current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.02) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.48) EPS.

Several other brokerages have also recently issued reports on LAC. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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 raised shares of 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 report on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective on the stock. Scotiabank decreased their target price on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Finally, BMO Capital Markets upgraded Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.63.

Lithium Americas Trading Down 3.6 %

LAC opened at $3.73 on Thursday. The stock’s 50-day moving average price is $3.10 and its 200 day moving average price is $3.09. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $7.71. The firm has a market cap of $823.10 million and a price-to-earnings ratio of -30.25.

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

Hedge Funds Weigh In On Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fairscale Capital LLC purchased a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $27,000. AE Wealth Management LLC purchased a new stake in Lithium Americas in the second quarter valued at $27,000. Evergreen Capital Management LLC acquired a new position in Lithium Americas in the second quarter valued at $27,000. Quent Capital LLC boosted its stake in Lithium Americas by 100.0% in the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after acquiring an additional 5,000 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Lithium Americas during the second quarter worth about $30,000.

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.