Cormark Brokers Lower Earnings Estimates for Lithium Americas Corp. (TSE:LAC)

Lithium Americas Corp. (TSE:LAC) – Equities research analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for Lithium Americas in a report issued on Wednesday, April 24th. Cormark analyst M. Whale now forecasts that the company will post earnings per share of ($0.23) for the year, down from their previous forecast of ($0.14). The consensus estimate for Lithium Americas’ current full-year earnings is $1.38 per share.

Separately, JPMorgan Chase & Co. decreased their price objective on shares of Lithium Americas from C$10.00 to C$7.50 and set a “neutral” rating for the company in a report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Lithium Americas has a consensus rating of “Hold” and a consensus price target of C$22.75.

Lithium Americas Stock Down 2.6 %

Shares of Lithium Americas stock opened at C$6.10 on Monday. The company has a 50-day simple moving average of C$7.86 and a two-hundred day simple moving average of C$8.12. Lithium Americas has a 52-week low of C$5.17 and a 52-week high of C$31.34. The company has a debt-to-equity ratio of 0.97, a quick ratio of 52.06 and a current ratio of 8.38. The stock has a market capitalization of C$988.08 million, a PE ratio of -203.33 and a beta of 1.58.

Lithium Americas (TSE:LAC) last announced its quarterly earnings data on Friday, March 15th. The company reported C($0.11) EPS for the quarter, missing the consensus estimate of C($0.04) by C($0.07).

Insider Buying and Selling at Lithium Americas

In related news, Director Jinhee Magie purchased 8,000 shares of Lithium Americas stock in a transaction dated Wednesday, April 24th. The stock was purchased at an average cost of C$6.48 per share, for a total transaction of C$51,840.00. In the last 90 days, insiders have purchased 8,831 shares of company stock worth $55,411. Company insiders own 0.38% of the company’s stock.

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.