B. Riley Has Negative Estimate for TSE:LAC FY2024 Earnings

Lithium Americas Corp. (TSE:LAC) – Stock analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research report issued to clients and investors on Tuesday, November 12th. B. Riley analyst M. Key now forecasts that the company will post earnings of ($0.18) per share for the year, down from their previous forecast of ($0.16). 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 ($0.03) EPS and FY2025 earnings at ($0.50) EPS.

Several other equities analysts have also recently weighed in on LAC. BMO Capital Markets raised Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Piper Sandler cut shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. National Bank Financial upgraded Lithium Americas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, National Bankshares upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$5.75 to C$7.25 in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Lithium Americas has a consensus rating of “Moderate Buy” and a consensus price target of C$7.38.

Lithium Americas Stock Down 3.9 %

Shares of LAC opened at C$5.24 on Thursday. 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 stock has a market capitalization of C$1.14 billion, a PE ratio of -32.75 and a beta of 1.58. The firm’s 50 day moving average is C$4.25 and its 200-day moving average is C$4.27. Lithium Americas has a 12 month low of C$2.87 and a 12 month high of C$10.59.

Lithium Americas (TSE:LAC) last released its quarterly earnings results on Tuesday, November 5th. The company reported C($0.02) EPS for the quarter, beating the consensus estimate of C($0.03) by C$0.01.

Insider Activity at Lithium Americas

In other news, Senior Officer Oleksandr Shulga sold 24,862 shares of Lithium Americas stock in a transaction dated 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 owned by 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.