Lithium Americas (Argentina) Corp. Expected to Earn FY2024 Earnings of $1.04 Per Share (NYSE:LAAC)

Lithium Americas (Argentina) Corp. (NYSE:LAACFree Report) – Scotiabank reduced their FY2024 earnings per share estimates for shares of Lithium Americas (Argentina) in a note issued to investors on Thursday, March 21st. Scotiabank analyst B. Isaacson now anticipates that the company will earn $1.04 per share for the year, down from their prior estimate of $1.10. Scotiabank has a “Sector Outperform” rating and a $8.00 price target on the stock. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is $0.47 per share. Scotiabank also issued estimates for Lithium Americas (Argentina)’s FY2025 earnings at $1.27 EPS.

Other equities research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft cut shares of Lithium Americas (Argentina) from a “buy” rating to a “hold” rating and decreased their target price for the stock from $9.00 to $6.50 in a research report on Thursday, January 11th. Stifel Nicolaus set a $18.50 price objective on shares of Lithium Americas (Argentina) in a research note on Tuesday, November 28th. Finally, BMO Capital Markets dropped their price target on Lithium Americas (Argentina) from $7.00 to $6.50 and set a “market perform” rating for the company in a research note on Friday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.70.

View Our Latest Research Report on LAAC

Lithium Americas (Argentina) Stock Performance

Shares of LAAC opened at $4.99 on Monday. Lithium Americas has a fifty-two week low of $3.84 and a fifty-two week high of $8.79. The firm has a market cap of $801.44 million, a P/E ratio of 0.62 and a beta of 1.31. The company has a fifty day simple moving average of $4.63. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of institutional investors have recently made changes to their positions in LAAC. Allworth Financial LP bought a new position in Lithium Americas (Argentina) in the fourth quarter worth about $32,000. Quent Capital LLC bought a new stake in shares of Lithium Americas (Argentina) in the 4th quarter worth approximately $34,000. Shell Asset Management Co. acquired a new position in Lithium Americas (Argentina) during the 4th quarter valued at approximately $42,000. Fifth Third Bancorp acquired a new position in Lithium Americas (Argentina) during the 4th quarter valued at approximately $53,000. Finally, Scarborough Advisors LLC acquired a new stake in Lithium Americas (Argentina) in the fourth quarter worth $53,000. 49.17% of the stock is currently owned by institutional investors.

About Lithium Americas (Argentina)

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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.

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