FY2024 EPS Estimates for Lithium Americas (Argentina) Corp. Decreased by Cormark (NYSE:LAAC)

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Research analysts at Cormark reduced their FY2024 earnings per share (EPS) estimates for Lithium Americas (Argentina) in a report issued on Thursday, August 15th. Cormark analyst M. Whale now anticipates that the company will post earnings per share of $0.05 for the year, down from their previous estimate of $0.24. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is $0.07 per share. Cormark also issued estimates for Lithium Americas (Argentina)’s FY2025 earnings at $0.59 EPS.

A number of other brokerages have also recently issued reports on LAAC. Stifel Nicolaus lowered their price objective on Lithium Americas (Argentina) from $18.50 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 21st. National Bankshares set a $6.00 price target on shares of Lithium Americas (Argentina) and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. Scotiabank lowered their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating on the stock in a report on Thursday, August 15th. HSBC upgraded shares of Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Hsbc Global Res raised Lithium Americas (Argentina) to a “strong-buy” rating in a research note on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Lithium Americas (Argentina) has an average rating of “Moderate Buy” and an average target price of $8.21.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $2.55 on Monday. Lithium Americas has a 1 year low of $2.26 and a 1 year high of $8.79. The company has a 50-day moving average of $3.07 and a 200 day moving average of $4.21. The firm has a market cap of $411.14 million, a price-to-earnings ratio of 0.32 and a beta of 1.35.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently bought and sold shares of the stock. General Motors Holdings LLC purchased a new position in shares of Lithium Americas (Argentina) during the first quarter valued at about $80,862,000. FIFTHDELTA Ltd bought a new stake in Lithium Americas (Argentina) in the 4th quarter worth approximately $32,598,000. Vanguard Group Inc. raised its holdings in shares of Lithium Americas (Argentina) by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 3,560,536 shares of the company’s stock worth $19,191,000 after acquiring an additional 21,456 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Lithium Americas (Argentina) during the 2nd quarter valued at approximately $10,465,000. Finally, Van ECK Associates Corp grew its holdings in shares of Lithium Americas (Argentina) by 13.2% in the second quarter. Van ECK Associates Corp now owns 2,614,946 shares of the company’s stock valued at $8,366,000 after purchasing an additional 304,590 shares in the last quarter. 49.17% of the stock is currently owned by institutional investors.

Lithium Americas (Argentina) Company Profile

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.