Q3 Earnings Estimate for Lithium Americas Issued By B. Riley

Lithium Americas Corp. (TSE:LAC) – Investment analysts at B. Riley cut their Q3 2024 earnings estimates for Lithium Americas in a research report issued on Thursday, October 17th. B. Riley analyst M. Key now expects that the company will post earnings per share of ($0.04) for the quarter, down from their previous forecast of ($0.03). The consensus estimate for Lithium Americas’ current full-year earnings is $1.38 per share. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.16) EPS, FY2025 earnings at ($0.51) EPS and FY2026 earnings at ($0.67) EPS.

Other equities analysts also recently issued reports about the stock. National Bankshares raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from C$5.75 to C$7.25 in a research note on Thursday, October 17th. National Bank Financial raised shares of Lithium Americas from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Piper Sandler downgraded shares of Lithium Americas from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 29th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$9.08.

Lithium Americas Stock Up 10.4 %

Shares of TSE LAC opened at C$4.58 on Monday. The company’s 50-day simple moving average is C$3.53 and its 200-day simple moving average is C$4.62. Lithium Americas has a 52-week low of C$2.87 and a 52-week high of C$10.75. The firm has a market cap of C$998.44 million, a price-to-earnings ratio of -28.63 and a beta of 1.58. The company has a quick ratio of 52.06, a current ratio of 20.15 and a debt-to-equity ratio of 0.69.

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

Insiders Place Their Bets

In other news, Senior Officer Oleksandr Shulga sold 24,862 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of C$3.40, for a total transaction of C$84,530.80. 7.40% of the stock is owned by insiders.

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.