What is Wedbush’s Forecast for LAC FY2024 Earnings?

Lithium Americas Corp. (NYSE:LAC) – Stock analysts at Wedbush issued their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research note issued on Thursday, December 19th. Wedbush analyst D. Ives anticipates that the company will post earnings per share of ($0.15) for the year. Wedbush currently has a “Neutral” 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. Wedbush also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.20) EPS.

A number of other equities analysts also recently issued reports on the company. B. Riley lifted their price target on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. National Bank Financial upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Scotiabank dropped their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research note on Wednesday, October 23rd. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Lithium Americas has an average rating of “Hold” and a consensus target price of $5.56.

Lithium Americas Trading Up 6.7 %

Lithium Americas stock opened at $3.17 on Monday. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $7.71. The firm has a market capitalization of $699.57 million and a price-to-earnings ratio of -26.42. The firm’s fifty day moving average price is $3.66 and its two-hundred day moving average price is $2.98.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors have recently added to or reduced their stakes in LAC. SG Americas Securities LLC grew its holdings in Lithium Americas by 131.1% during the second quarter. SG Americas Securities LLC now owns 23,751 shares of the company’s stock valued at $64,000 after purchasing an additional 13,472 shares during the period. International Assets Investment Management LLC purchased a new stake in Lithium Americas in the 2nd quarter worth about $30,000. Van ECK Associates Corp raised its stake in Lithium Americas by 69.8% in the 2nd quarter. Van ECK Associates Corp now owns 3,953,127 shares of the company’s stock valued at $10,591,000 after acquiring an additional 1,625,149 shares during the period. CIBC Asset Management Inc purchased a new stake in Lithium Americas during the second quarter valued at about $97,000. Finally, Wolverine Asset Management LLC increased its stake in shares of Lithium Americas by 69.3% in the second quarter. Wolverine Asset Management LLC now owns 268,622 shares of the company’s stock worth $720,000 after purchasing an additional 110,000 shares in the last quarter.

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.