Stifel Canada Lowers Earnings Estimates for Lithium Americas

Lithium Americas Corp. (NYSE:LAC) – Stifel Canada cut their FY2024 EPS estimates for Lithium Americas in a research report issued on Wednesday, October 16th. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings of ($0.08) per share for the year, down from their prior estimate of ($0.04). The consensus estimate for Lithium Americas’ current full-year earnings is ($0.09) per share. Stifel Canada also issued estimates for Lithium Americas’ FY2025 earnings at ($0.03) EPS, FY2026 earnings at ($0.04) EPS and FY2027 earnings at $0.05 EPS.

LAC has been the topic of a number of other research reports. Scotiabank dropped their price target on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research report on Friday. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday. B. Riley cut their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. Finally, Piper Sandler started coverage on shares of Lithium Americas in a research report on Monday, July 29th. They issued a “neutral” rating and a $3.90 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Lithium Americas Trading Down 3.1 %

LAC stock opened at $3.14 on Monday. Lithium Americas has a 1-year low of $2.02 and a 1-year high of $8.07. The business’s 50-day moving average price is $2.55 and its two-hundred day moving average price is $3.32.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Lithium Americas during the 4th quarter worth about $217,000. Mather Group LLC. acquired a new position in Lithium Americas during the first quarter valued at approximately $26,000. Banque Cantonale Vaudoise acquired a new position in Lithium Americas during the first quarter valued at approximately $25,000. Wealth Enhancement Advisory Services LLC boosted its position in Lithium Americas by 8.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 242,074 shares of the company’s stock valued at $1,627,000 after purchasing an additional 18,388 shares during the last quarter. Finally, MorganRosel Wealth Management LLC bought a new position in Lithium Americas in the first quarter valued at approximately $101,000.

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.