FY2024 EPS Estimates for Lithium Americas Corp. (NYSE:LAC) Cut by Analyst

Lithium Americas Corp. (NYSE:LAC - Free Report) - Investment analysts at Cormark decreased their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research report issued on Wednesday, April 24th. Cormark analyst M. Whale now anticipates that the company will post earnings of ($0.17) per share for the year, down from their prior forecast of ($0.10). The consensus estimate for Lithium Americas' current full-year earnings is ($0.15) per share.

A number of other brokerages have also weighed in on LAC. Scotiabank lowered Lithium Americas from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Monday, March 18th. Evercore ISI reduced their price objective on shares of Lithium Americas from $13.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, March 15th. HSBC decreased their price objective on shares of Lithium Americas from $6.50 to $5.10 and set a "hold" rating for the company in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lithium Americas from $5.50 to $7.00 and gave the company a "neutral" rating in a research note on Monday, March 18th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $12.18.

Lithium Americas Stock Down 1.2 %

Shares of NYSE LAC traded down $0.05 during trading hours on Monday, hitting $4.57. The company's stock had a trading volume of 4,554,873 shares, compared to its average volume of 4,038,770. The business has a 50-day simple moving average of $5.78 and a 200-day simple moving average of $6.02. Lithium Americas has a 12 month low of $3.81 and a 12 month high of $12.38.

Lithium Americas (NYSE:LAC - Get Free Report) last posted its quarterly earnings results on Friday, March 15th. The company reported ($0.08) EPS for the quarter, meeting analysts' consensus estimates of ($0.08).

Hedge Funds Weigh In On Lithium Americas

Large investors have recently made changes to their positions in the business. CWM LLC increased its position in Lithium Americas by 140.6% during the 3rd quarter. CWM LLC now owns 2,327 shares of the company's stock valued at $40,000 after buying an additional 1,360 shares in the last quarter. Dynamic Advisor Solutions LLC increased its stake in Lithium Americas by 3.6% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 60,551 shares of the company's stock valued at $368,000 after purchasing an additional 2,126 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Lithium Americas by 71.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,275 shares of the company's stock worth $90,000 after acquiring an additional 2,201 shares during the last quarter. Csenge Advisory Group lifted its position in Lithium Americas by 13.1% in the 3rd quarter. Csenge Advisory Group now owns 20,254 shares of the company's stock valued at $345,000 after acquiring an additional 2,345 shares in the last quarter. Finally, Operose Advisors LLC purchased a new stake in Lithium Americas during the 3rd quarter valued at $44,000.

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.