B. Riley Has Pessimistic Outlook of LAAC FY2024 Earnings

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Analysts at B. Riley reduced their FY2024 earnings per share estimates for Lithium Americas (Argentina) in a report released on Thursday, November 7th. B. Riley analyst M. Key now anticipates that the company will post earnings of ($0.09) per share for the year, down from their prior estimate of ($0.06). The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is ($0.06) per share. B. Riley also issued estimates for Lithium Americas (Argentina)’s Q4 2024 earnings at ($0.02) EPS and FY2025 earnings at $0.13 EPS.

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

Several other research firms have also recently weighed in on LAAC. Scotiabank dropped their price target on shares of Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a research note on Thursday, August 15th. HSBC upgraded Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research report on Wednesday, August 14th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a research report on Wednesday, August 14th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $7.05.

Lithium Americas (Argentina) Trading Up 5.6 %

Shares of LAAC opened at $3.42 on Monday. The firm has a 50-day moving average price of $3.11 and a 200 day moving average price of $3.48. Lithium Americas has a 12-month low of $2.07 and a 12-month high of $6.69. The firm has a market capitalization of $553.77 million, a P/E ratio of 0.44 and a beta of 1.33.

Institutional Trading of Lithium Americas (Argentina)

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its position in Lithium Americas (Argentina) by 25.8% in the 3rd 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 in the last quarter. General Motors Holdings LLC acquired a new position in shares of Lithium Americas (Argentina) in the third quarter valued at approximately $48,907,000. M&G PLC increased its stake in Lithium Americas (Argentina) by 11.2% during the 3rd quarter. M&G PLC now owns 1,530,176 shares of the company’s stock worth $4,591,000 after buying an additional 154,067 shares during the period. Old West Investment Management LLC lifted its holdings in Lithium Americas (Argentina) by 193.6% during the 3rd quarter. Old West Investment Management LLC now owns 98,032 shares of the company’s stock worth $320,000 after buying an additional 64,646 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in Lithium Americas (Argentina) by 47.3% during the 3rd quarter. Intact Investment Management Inc. now owns 510,200 shares of the company’s stock worth $1,671,000 after buying an additional 163,800 shares in the last quarter. Hedge funds and other institutional investors own 49.17% of the company’s stock.

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.