What is Scotiabank’s Forecast for LAC FY2024 Earnings?

Lithium Americas Corp. (NYSE:LAC) – Research analysts at Scotiabank issued their FY2024 earnings per share (EPS) estimates for Lithium Americas in a report issued on Wednesday, January 8th. Scotiabank analyst B. Isaacson anticipates that the company will post earnings of ($0.07) per share for the year. Scotiabank has a “Sector Perform” rating and a $2.50 price objective on the stock. The consensus estimate for Lithium Americas’ current full-year earnings is ($0.10) per share. Scotiabank also issued estimates for Lithium Americas’ FY2025 earnings at ($0.01) EPS and FY2026 earnings at ($0.10) EPS.

Other analysts also recently issued reports about the stock. Piper Sandler decreased their target price on shares of Lithium Americas from $3.90 to $3.50 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 17th. B. Riley raised their target price on Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Wedbush began coverage on Lithium Americas in a research note on Thursday, December 19th. They set a “neutral” rating and a $5.00 price target for the company. Finally, BMO Capital Markets raised Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $5.51.

Lithium Americas Stock Performance

Shares of NYSE LAC opened at $3.14 on Monday. The business has a 50 day simple moving average of $3.55 and a 200 day simple moving average of $3.01. Lithium Americas has a 52 week low of $2.02 and a 52 week high of $7.71. The stock has a market cap of $692.95 million, a price-to-earnings ratio of -26.17 and a beta of 1.67.

Institutional Investors Weigh In On Lithium Americas

Hedge funds have recently modified their holdings of the business. Fairscale Capital LLC acquired a new stake in Lithium Americas during the second quarter worth about $27,000. Quent Capital LLC grew its holdings in shares of Lithium Americas by 100.0% during the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock worth $27,000 after purchasing an additional 5,000 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Lithium Americas during the second quarter valued at approximately $27,000. AE Wealth Management LLC acquired a new position in shares of Lithium Americas in the second quarter valued at $27,000. Finally, Wedbush Securities Inc. bought a new position in Lithium Americas in the second quarter worth $32,000.

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.