What is Wedbush’s Forecast for LAC FY2024 Earnings?

Lithium Americas Corp. (NYSE:LAC) – Stock analysts at Wedbush issued their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas in a research note issued to investors on Thursday, December 19th. Wedbush analyst D. Ives expects that the company will post earnings per share of ($0.15) for the year. Wedbush has a “Neutral” 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. Wedbush also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.04) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at ($0.05) EPS, Q3 2025 earnings at ($0.05) EPS, Q4 2025 earnings at ($0.05) EPS and FY2025 earnings at ($0.20) EPS.

LAC has been the topic of a number of other reports. National Bank Financial upgraded shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 17th. B. Riley increased their price objective on shares of Lithium Americas from $4.50 to $5.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Scotiabank lowered 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 report on Friday, October 18th. Finally, BMO Capital Markets upgraded shares of Lithium Americas to a “hold” rating in a research report on Wednesday, October 23rd. Seven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Lithium Americas currently has a consensus rating of “Hold” and an average target price of $5.56.

Lithium Americas Stock Up 1.0 %

Lithium Americas stock opened at $2.97 on Monday. The business’s 50-day simple moving average is $3.66 and its 200 day simple moving average is $2.98. The stock has a market cap of $655.43 million and a price-to-earnings ratio of -24.75. Lithium Americas has a 12-month low of $2.02 and a 12-month high of $7.71.

Hedge Funds Weigh In On Lithium Americas

Several institutional investors and hedge funds have recently made changes to their positions in LAC. Renaissance Technologies LLC acquired a new stake in Lithium Americas during the 2nd quarter worth $520,000. Marshall Wace LLP acquired a new stake in shares of Lithium Americas during the second quarter worth about $10,252,000. Merewether Investment Management LP bought a new position in shares of Lithium Americas during the 2nd quarter valued at about $858,000. Point72 Asset Management L.P. grew its position in shares of Lithium Americas by 580.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,857,193 shares of the company’s stock valued at $4,977,000 after purchasing an additional 1,584,123 shares during the period. Finally, Teamwork Financial Advisors LLC grew its position in shares of Lithium Americas by 2,274.3% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 398,760 shares of the company’s stock valued at $1,077,000 after purchasing an additional 381,965 shares during the period.

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.