Scotiabank Comments on Lithium Americas (Argentina) Corp.'s FY2024 Earnings (NYSE:LAAC)

Lithium Americas (Argentina) Corp. (NYSE:LAAC - Free Report) - Equities research analysts at Scotiabank lowered their FY2024 EPS estimates for Lithium Americas (Argentina) in a report issued on Thursday, March 21st. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings of $1.04 per share for the year, down from their previous forecast of $1.10. Scotiabank has a "Sector Outperform" rating and a $8.00 price objective 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.

Several other brokerages also recently commented on LAAC. Deutsche Bank Aktiengesellschaft downgraded shares of Lithium Americas (Argentina) from a "buy" rating to a "hold" rating and lowered their price objective for the company from $9.00 to $6.50 in a research note on Thursday, January 11th. BMO Capital Markets lowered their price objective on shares of Lithium Americas (Argentina) from $7.00 to $6.50 and set a "market perform" rating for the company in a research note on Friday. Finally, Stifel Nicolaus set a $18.50 price target on shares of Lithium Americas (Argentina) in a research note on Tuesday, November 28th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.70.

Lithium Americas (Argentina) Stock Down 0.3 %

Shares of NYSE:LAAC traded down $0.01 during midday trading on Monday, hitting $4.99. 2,429,104 shares of the stock traded hands, compared to its average volume of 1,846,456. The stock has a market cap of $801.44 million, a PE ratio of 0.64 and a beta of 1.31. The stock's 50 day simple moving average is $4.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 9.16 and a quick ratio of 9.16. Lithium Americas has a one year low of $3.84 and a one year high of $8.79.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Advisor Solutions LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $281,000. FNY Investment Advisers LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $62,000. HITE Hedge Asset Management LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $298,000. Flputnam Investment Management Co. purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $136,000. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Lithium Americas (Argentina) during the fourth quarter valued at approximately $160,000. Hedge funds and other institutional investors own 49.17% of the company's stock.

About Lithium Americas (Argentina)

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.