Lithium Americas Corp. (TSE:LAC) Forecasted to Post FY2024 Earnings of ($0.23) Per Share

Lithium Americas Corp. (TSE:LAC - Free Report) - Cormark dropped their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research report issued to clients and investors on Wednesday, April 24th. Cormark analyst M. Whale now anticipates that the company will post earnings of ($0.23) per share for the year, down from their previous forecast of ($0.14). The consensus estimate for Lithium Americas' current full-year earnings is $1.38 per share.

Lithium Americas (TSE:LAC - Get Free Report) last announced its quarterly earnings results on Friday, March 15th. The company reported C($0.11) earnings per share for the quarter, missing analysts' consensus estimates of C($0.04) by C($0.07).

Separately, JPMorgan Chase & Co. lowered their price target on Lithium Americas from C$10.00 to C$7.50 and set a "neutral" rating for the company in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Lithium Americas has a consensus rating of "Hold" and a consensus price target of C$22.75.

Lithium Americas Trading Down 1.1 %

Shares of LAC stock traded down C$0.07 during mid-day trading on Monday, reaching C$6.26. The company's stock had a trading volume of 749,327 shares, compared to its average volume of 674,684. The company has a quick ratio of 52.06, a current ratio of 8.38 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of C$1.01 billion, a PE ratio of -208.67 and a beta of 1.58. The company's 50 day simple moving average is C$7.86 and its 200-day simple moving average is C$8.16. Lithium Americas has a 12-month low of C$5.17 and a 12-month high of C$31.34.

Insider Activity

In other news, Director Jinhee Magie purchased 8,000 shares of the company's stock in a transaction that occurred on Wednesday, April 24th. The shares were purchased at an average price of C$6.48 per share, with a total value of C$51,840.00. Insiders have bought 8,831 shares of company stock worth $55,411 over the last 90 days. Company insiders own 0.38% of the company's stock.

Lithium Americas Company Profile

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.