Stifel Canada Predicts Weaker Earnings for Lithium Americas

Lithium Americas Corp. (NYSE:LAC) – Equities researchers at Stifel Canada cut their FY2024 EPS estimates for Lithium Americas in a research note issued to investors on Wednesday, October 16th. Stifel Canada analyst C. Mcgill now anticipates that the company will post earnings of ($0.08) per share for the year, down from their prior forecast of ($0.04). The consensus estimate for Lithium Americas’ current full-year earnings is ($0.09) per share. Stifel Canada also issued estimates for Lithium Americas’ FY2025 earnings at ($0.03) EPS, FY2026 earnings at ($0.04) EPS and FY2027 earnings at $0.05 EPS.

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

Several other research analysts have also issued reports on the company. Piper Sandler started coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective for the company. National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a report on Thursday. B. Riley cut their price target on shares of Lithium Americas from $4.50 to $4.00 and set a “buy” rating for the company in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. Finally, Scotiabank cut their target price on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research note on Friday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Lithium Americas has a consensus rating of “Moderate Buy” and a consensus target price of $5.50.

Lithium Americas Price Performance

Shares of LAC opened at $3.14 on Monday. Lithium Americas has a 1 year low of $2.02 and a 1 year high of $8.07. The stock has a 50 day simple moving average of $2.55 and a 200-day simple moving average of $3.32.

Institutional Trading of Lithium Americas

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Lithium Americas during the 1st quarter worth approximately $25,000. Mather Group LLC. bought a new position in Lithium Americas in the first quarter valued at approximately $26,000. Fairscale Capital LLC acquired a new stake in Lithium Americas during the 2nd quarter worth $27,000. AE Wealth Management LLC bought a new stake in shares of Lithium Americas during the 2nd quarter valued at $27,000. Finally, Evergreen Capital Management LLC acquired a new position in shares of Lithium Americas in the 2nd quarter valued at $27,000.

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.