Lithium Americas Corp. (TSE:LAC) to Post FY2024 Earnings of ($0.23) Per Share, Cormark Forecasts

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

Lithium Americas (TSE:LAC) last issued its quarterly earnings results on Friday, March 15th. The company reported C($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.04) by C($0.07).

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

Lithium Americas Stock Performance

LAC opened at C$6.33 on Monday. The company has a quick ratio of 52.06, a current ratio of 8.38 and a debt-to-equity ratio of 0.97. The company has a market cap of C$1.03 billion, a price-to-earnings ratio of -211.00 and a beta of 1.58. Lithium Americas has a 52-week low of C$5.17 and a 52-week high of C$31.34. The firm’s fifty day simple moving average is C$7.86 and its two-hundred day simple moving average is C$8.20.

Insider Activity at Lithium Americas

In related news, Director Jinhee Magie bought 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average cost of C$6.48 per share, with a total value of C$51,840.00. Insiders have acquired 8,831 shares of company stock valued at $55,411 over the last quarter. 0.38% 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.