Lithium Americas Corp. (TSE:LAC) to Post FY2024 Earnings of ($0.23) Per Share, Cormark Forecasts

Lithium Americas Corp. (TSE:LAC) – Investment analysts at Cormark dropped their FY2024 earnings per share estimates for Lithium Americas in a report released on Wednesday, April 24th. Cormark analyst M. Whale now expects that the company will post earnings of ($0.23) per share for the year, down from their previous forecast of ($0.14). The consensus estimate for Lithium Americas’ current full-year earnings is $1.38 per share.

Separately, JPMorgan Chase & Co. decreased their price target on shares of Lithium Americas from C$10.00 to C$7.50 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, Lithium Americas currently has a consensus rating of “Hold” and a consensus target price of C$22.75.

Lithium Americas Price Performance

Shares of TSE:LAC opened at C$6.33 on Monday. Lithium Americas has a 12 month low of C$5.17 and a 12 month high of C$31.34. The stock has a market cap of C$1.03 billion, a price-to-earnings ratio of -211.00 and a beta of 1.58. The stock’s 50 day moving average price is C$7.86 and its 200 day moving average price is C$8.20. The company has a debt-to-equity ratio of 0.97, a current ratio of 8.38 and a quick ratio of 52.06.

Lithium Americas (TSE:LAC) last announced its earnings results on Friday, March 15th. The company reported C($0.11) EPS for the quarter, missing the consensus estimate of C($0.04) by C($0.07).

Insiders Place Their Bets

In other Lithium Americas news, Director Jinhee Magie purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, April 24th. The shares were purchased at an average price of C$6.48 per share, for a total transaction of C$51,840.00. Over the last 90 days, insiders have acquired 8,831 shares of company stock worth $55,411. 0.38% of the stock is owned by insiders.

Lithium Americas Company Profile

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.