B. Riley Decreases Earnings Estimates for Lithium Americas

Lithium Americas Corp. (NYSE:LAC) – Research analysts at B. Riley cut their FY2024 earnings estimates for shares of Lithium Americas in a note issued to investors on Tuesday, November 12th. B. Riley analyst M. Key now expects that the company will earn ($0.13) per share for the year, down from their prior estimate of ($0.12). B. Riley has a “Buy” rating and a $5.00 price objective on the stock. The consensus estimate for Lithium Americas’ current full-year earnings is ($0.10) per share. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.02) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.48) EPS.

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

A number of other equities research analysts have also recently commented on LAC. Piper Sandler began coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 target price on the stock. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Friday, August 16th. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. Finally, Scotiabank dropped their price objective on Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating on the stock in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $5.63.

Lithium Americas Trading Down 8.1 %

Shares of Lithium Americas stock opened at $3.88 on Thursday. The firm has a market capitalization of $856.19 million and a P/E ratio of -33.17. The business’s fifty day simple moving average is $3.07 and its 200 day simple moving average is $3.08. Lithium Americas has a 12 month low of $2.02 and a 12 month high of $7.86.

Institutional Investors Weigh In On Lithium Americas

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fairscale Capital LLC purchased a new position in shares of Lithium Americas in the second quarter valued at $27,000. AE Wealth Management LLC bought a new position in Lithium Americas in the 2nd quarter worth about $27,000. Evergreen Capital Management LLC purchased a new position in Lithium Americas during the 2nd quarter valued at about $27,000. Quent Capital LLC increased its position in shares of Lithium Americas by 100.0% during the third quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Lithium Americas in the second quarter worth about $30,000.

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.