B. Riley Equities Analysts Cut Earnings Estimates for LAC

Lithium Americas Corp. (NYSE:LAC) – Research analysts at B. Riley reduced their FY2024 earnings estimates for shares of Lithium Americas in a research note issued to investors on Tuesday, November 12th. B. Riley analyst M. Key now expects that the company will earn ($0.13) per share for the year, down from their previous forecast of ($0.12). B. Riley has a “Buy” rating and a $5.00 price target 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.

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

Other equities research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Friday, August 16th. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. BMO Capital Markets raised Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Piper Sandler started coverage on shares of Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. Finally, Scotiabank cut their price target on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a report on Friday, October 18th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Price Performance

Lithium Americas stock opened at $3.73 on Thursday. The business has a 50 day simple moving average of $3.10 and a 200-day simple moving average of $3.09. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.71. The stock has a market capitalization of $823.10 million and a PE ratio of -30.25.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC boosted its holdings in shares of Lithium Americas by 2,332.3% during the first quarter. Headlands Technologies LLC now owns 7,686 shares of the company’s stock worth $52,000 after purchasing an additional 7,370 shares during the last quarter. Fairscale Capital LLC purchased a new position in Lithium Americas during the second quarter worth about $27,000. Quent Capital LLC boosted its stake in Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after buying an additional 5,000 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in Lithium Americas in the 2nd quarter valued at about $27,000. Finally, AE Wealth Management LLC acquired a new position in shares of Lithium Americas during the 2nd quarter valued at about $27,000.

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.