Research Analysts Offer Predictions for LAAC FY2024 Earnings

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Investment analysts at Cormark dropped their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas (Argentina) in a research report issued to clients and investors on Thursday, November 7th. Cormark analyst M. Whale now expects that the company will earn ($0.09) per share for the year, down from their prior estimate of $0.05. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is ($0.06) per share. Cormark also issued estimates for Lithium Americas (Argentina)’s FY2025 earnings at $0.22 EPS.

Several other equities research analysts have also commented on the stock. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Scotiabank dropped their price target on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Lithium Americas (Argentina) currently has an average rating of “Moderate Buy” and a consensus price target of $7.05.

Lithium Americas (Argentina) Trading Down 0.3 %

Shares of LAAC stock opened at $3.24 on Monday. The company’s fifty day moving average price is $3.11 and its 200-day moving average price is $3.48. The stock has a market cap of $524.62 million, a PE ratio of 0.42 and a beta of 1.33. Lithium Americas has a 12 month low of $2.07 and a 12 month high of $6.69.

Lithium Americas (Argentina) (NYSE:LAAC) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.02).

Institutional Trading of Lithium Americas (Argentina)

Several institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC lifted its stake in Lithium Americas (Argentina) by 25.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock valued at $93,000 after acquiring an additional 5,870 shares during the period. General Motors Holdings LLC purchased a new position in shares of Lithium Americas (Argentina) during the third quarter valued at approximately $48,907,000. M&G PLC lifted its position in Lithium Americas (Argentina) by 11.2% during the third quarter. M&G PLC now owns 1,530,176 shares of the company’s stock valued at $4,591,000 after purchasing an additional 154,067 shares during the period. Old West Investment Management LLC lifted its position in Lithium Americas (Argentina) by 193.6% during the third quarter. Old West Investment Management LLC now owns 98,032 shares of the company’s stock valued at $320,000 after purchasing an additional 64,646 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in Lithium Americas (Argentina) by 47.3% in the third quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock worth $1,671,000 after purchasing an additional 163,800 shares during the last quarter. 49.17% of the stock is currently owned by hedge funds and other institutional investors.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.