FY2024 Earnings Forecast for TSE:LAC Issued By Stifel Canada

Lithium Americas Corp. (TSE:LAC) – Equities research analysts at Stifel Canada dropped their FY2024 earnings per share estimates for shares of Lithium Americas in a research note issued on Wednesday, October 16th. Stifel Canada analyst C. Mcgill now forecasts that the company will post earnings of ($0.11) per share for the year, down from their previous forecast of ($0.05). The consensus estimate for Lithium Americas’ current full-year earnings is $1.38 per share. Stifel Canada also issued estimates for Lithium Americas’ FY2025 earnings at ($0.04) EPS, FY2026 earnings at ($0.05) EPS and FY2027 earnings at $0.07 EPS.

Several other research analysts have also commented on the company. Piper Sandler lowered Lithium Americas from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 29th. National Bankshares upgraded Lithium Americas from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from C$5.75 to C$7.25 in a research report on Thursday, October 17th. Finally, National Bank Financial upgraded Lithium Americas from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$9.08.

Lithium Americas Price Performance

Shares of LAC opened at C$4.15 on Monday. The firm has a market cap of C$904.70 million, a price-to-earnings ratio of -25.94 and a beta of 1.58. The stock has a 50 day moving average of C$3.49 and a 200-day moving average of C$4.66. The company has a current ratio of 20.15, a quick ratio of 52.06 and a debt-to-equity ratio of 0.69. Lithium Americas has a 52 week low of C$2.87 and a 52 week high of C$10.75.

Lithium Americas (TSE:LAC) last issued its earnings results on Tuesday, August 13th. The company reported C($0.07) EPS for the quarter, missing the consensus estimate of C($0.03) by C($0.04).

Insider Activity at Lithium Americas

In related news, Senior Officer Oleksandr Shulga sold 24,862 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of C$3.40, for a total transaction of C$84,530.80. Insiders own 7.40% of the company’s stock.

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.