Research Analysts Set Expectations for LAAC FY2024 Earnings

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Equities researchers at Scotiabank lowered their FY2024 EPS estimates for Lithium Americas (Argentina) in a research note issued to investors on Wednesday, November 6th. Scotiabank analyst B. Isaacson now forecasts that the company will earn $0.08 per share for the year, down from their prior estimate of $0.26. Scotiabank currently has a “Sector Outperform” rating and a $4.25 target price on the stock. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is ($0.02) per share. Scotiabank also issued estimates for Lithium Americas (Argentina)’s FY2025 earnings at $0.38 EPS and FY2026 earnings at $0.58 EPS.

Lithium Americas (Argentina) (NYSE:LAAC) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02).

A number of other equities analysts have also weighed in on the stock. HSBC raised shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Hsbc Global Res raised shares of Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.05.

Lithium Americas (Argentina) Price Performance

LAAC stock opened at $3.25 on Friday. The company has a 50 day moving average price of $3.09 and a 200 day moving average price of $3.51. Lithium Americas has a fifty-two week low of $2.07 and a fifty-two week high of $6.69. The stock has a market capitalization of $526.24 million, a PE ratio of 0.41 and a beta of 1.33.

Institutional Investors Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently modified their holdings of LAAC. Fifth Third Bancorp raised its position in shares of Lithium Americas (Argentina) by 67.9% in the 2nd quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after acquiring an additional 4,000 shares in the last quarter. TD Asset Management Inc raised its holdings in Lithium Americas (Argentina) by 3.5% in the 2nd quarter. TD Asset Management Inc now owns 122,775 shares of the company’s stock worth $391,000 after purchasing an additional 4,173 shares during the period. Old West Investment Management LLC raised its holdings in Lithium Americas (Argentina) by 18.2% in the 2nd quarter. Old West Investment Management LLC now owns 33,386 shares of the company’s stock worth $107,000 after purchasing an additional 5,140 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Lithium Americas (Argentina) by 8.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 67,635 shares of the company’s stock worth $216,000 after purchasing an additional 5,503 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in Lithium Americas (Argentina) by 25.8% during the third quarter. Apollon Wealth Management LLC now owns 28,607 shares of the company’s stock valued at $93,000 after acquiring an additional 5,870 shares during the period. Institutional investors own 49.17% of the company’s stock.

About Lithium Americas (Argentina)

Lithium Americas (Argentina) Corp. operates as a resource company. The company explores for lithium deposits. The company owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina. It also has a pipeline of development and exploration stage projects, including the Pastos Grandes project and the Sal de la Puna project located in Salta Province in northwestern Argentina.