B. Riley Forecasts Lithium Americas’ Q3 Earnings (NYSE:LAC)

Lithium Americas Corp. (NYSE:LAC) – B. Riley decreased their Q3 2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research report issued to clients and investors on Thursday, October 17th. B. Riley analyst M. Key now anticipates that the company will earn ($0.03) per share for the quarter, down from their prior forecast of ($0.02). B. Riley has a “Buy” rating and a $4.00 price objective on the stock. The consensus estimate for Lithium Americas’ current full-year earnings is ($0.09) per share. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.12) EPS, FY2025 earnings at ($0.37) EPS and FY2026 earnings at ($0.49) EPS.

LAC has been the topic of a number of other research reports. National Bank Financial raised Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. Piper Sandler began coverage on Lithium Americas in a research report on Monday, July 29th. They set a “neutral” rating and a $3.90 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a report on Friday, August 16th. Finally, Scotiabank lowered their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.50.

Lithium Americas Price Performance

Shares of NYSE:LAC opened at $3.01 on Monday. The company’s 50-day moving average price is $2.57 and its two-hundred day moving average price is $3.29. Lithium Americas has a one year low of $2.02 and a one year high of $7.86.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LAC. Banque Cantonale Vaudoise bought a new position in Lithium Americas during the first quarter worth $25,000. Mather Group LLC. acquired a new stake in shares of Lithium Americas during the 1st quarter worth about $26,000. Fairscale Capital LLC bought a new stake in shares of Lithium Americas during the 2nd quarter worth about $27,000. AE Wealth Management LLC acquired a new position in Lithium Americas in the 2nd quarter valued at about $27,000. Finally, Evergreen Capital Management LLC bought a new position in Lithium Americas in the 2nd quarter valued at about $27,000.

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.