Cormark Has Pessimistic Outlook of LAAC FY2024 Earnings

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Equities research analysts at Cormark reduced their FY2024 earnings per share estimates for shares of Lithium Americas (Argentina) in a report issued on Thursday, November 7th. Cormark analyst M. Whale now expects that the company will earn ($0.09) per share for the year, down from their previous estimate of $0.05. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is ($0.06) per share. Cormark also issued estimates for Lithium Americas (Argentina)’s FY2025 earnings at $0.22 EPS.

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

Several other research analysts also recently commented on LAAC. Scotiabank cut their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.05.

Lithium Americas (Argentina) Stock Down 6.4 %

Shares of NYSE LAAC opened at $3.20 on Monday. Lithium Americas has a 52 week low of $2.07 and a 52 week high of $6.69. The business has a 50-day simple moving average of $3.12 and a two-hundred day simple moving average of $3.47. The company has a market cap of $518.14 million, a P/E ratio of 0.41 and a beta of 1.33.

Institutional Trading of Lithium Americas (Argentina)

A number of large investors have recently modified their holdings of LAAC. General Motors Holdings LLC purchased a new position in shares of Lithium Americas (Argentina) during the 1st quarter valued at about $80,862,000. Vanguard Group Inc. raised its holdings in shares of Lithium Americas (Argentina) by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock valued at $19,191,000 after buying an additional 21,456 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at about $10,465,000. Van ECK Associates Corp raised its holdings in shares of Lithium Americas (Argentina) by 16.3% during the 3rd quarter. Van ECK Associates Corp now owns 3,041,365 shares of the company’s stock valued at $10,615,000 after buying an additional 426,419 shares in the last quarter. Finally, M&G PLC raised its holdings in shares of Lithium Americas (Argentina) by 11.2% during the 3rd quarter. M&G PLC now owns 1,530,176 shares of the company’s stock valued at $4,591,000 after buying an additional 154,067 shares in the last quarter. Institutional investors own 49.17% of the company’s stock.

Lithium Americas (Argentina) Company Profile

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.