FY2024 Earnings Estimate for Lithium Americas Corp. (NYSE:LAC) Issued By Cormark

Lithium Americas Corp. (NYSE:LAC) – Cormark reduced their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research note issued on Wednesday, April 24th. Cormark analyst M. Whale now anticipates that the company will earn ($0.17) per share for the year, down from their prior estimate of ($0.10). The consensus estimate for Lithium Americas’ current full-year earnings is ($0.15) per share.

LAC has been the subject of several other reports. Scotiabank lowered Lithium Americas from a “sector outperform” rating to a “sector perform” rating and decreased their target price for the company from $15.00 to $7.00 in a research report on Monday, March 18th. JPMorgan Chase & Co. raised their target price on Lithium Americas from $5.50 to $7.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. HSBC decreased their target price on Lithium Americas from $6.50 to $5.10 and set a “hold” rating for the company in a research report on Friday, April 19th. Finally, Evercore ISI decreased their target price on Lithium Americas from $13.00 to $9.00 and set an “outperform” rating for the company in a research report on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Lithium Americas currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.18.

Lithium Americas Price Performance

NYSE LAC opened at $4.62 on Monday. Lithium Americas has a 12 month low of $3.81 and a 12 month high of $12.38. The business has a fifty day simple moving average of $5.78 and a 200 day simple moving average of $6.05.

Lithium Americas (NYSE:LAC) last released its quarterly earnings results on Friday, March 15th. The company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08).

Institutional Trading of Lithium Americas

A number of large investors have recently modified their holdings of the business. General Motors Holdings LLC boosted its position in shares of Lithium Americas by 100.0% during the 4th quarter. General Motors Holdings LLC now owns 30,004,488 shares of the company’s stock valued at $190,829,000 after acquiring an additional 15,002,245 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Lithium Americas by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 3,534,140 shares of the company’s stock valued at $60,116,000 after buying an additional 39,419 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Lithium Americas by 24.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,345,908 shares of the company’s stock valued at $15,122,000 after buying an additional 461,635 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Lithium Americas by 22.2% during the 4th quarter. Van ECK Associates Corp now owns 2,033,397 shares of the company’s stock valued at $13,015,000 after buying an additional 369,879 shares in the last quarter. Finally, Aquila Investment Management LLC raised its holdings in shares of Lithium Americas by 89.9% during the 1st quarter. Aquila Investment Management LLC now owns 600,000 shares of the company’s stock valued at $4,032,000 after buying an additional 284,000 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.