Cormark Issues Pessimistic Estimate for LAAC Earnings

Lithium Americas (Argentina) Corp. (NYSE:LAAC) – Investment analysts at Cormark decreased their FY2024 earnings per share (EPS) estimates for shares of Lithium Americas (Argentina) in a research report issued on Thursday, November 7th. Cormark analyst M. Whale now anticipates that the company will post earnings of ($0.09) per share for the year, down from their prior forecast of $0.05. The consensus estimate for Lithium Americas (Argentina)’s current full-year earnings is ($0.06) per share. Cormark also issued estimates for Lithium Americas (Argentina)’s FY2025 earnings at $0.22 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 recently commented on LAAC. HSBC raised Lithium Americas (Argentina) from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Scotiabank decreased their target price on Lithium Americas (Argentina) from $8.00 to $4.25 and set a “sector outperform” rating for the company in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded Lithium Americas (Argentina) to a “strong-buy” rating in a report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $7.05.

Lithium Americas (Argentina) Price Performance

Shares of Lithium Americas (Argentina) stock opened at $3.20 on Monday. The business’s 50 day simple moving average is $3.12 and its two-hundred day simple moving average is $3.47. The stock has a market capitalization of $518.14 million, a P/E ratio of 0.41 and a beta of 1.33. Lithium Americas has a one year low of $2.07 and a one year high of $6.69.

Hedge Funds Weigh In On Lithium Americas (Argentina)

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fairscale Capital LLC purchased a new stake in Lithium Americas (Argentina) in the second quarter worth $31,000. Fifth Third Bancorp grew its stake in Lithium Americas (Argentina) by 67.9% in the second quarter. Fifth Third Bancorp now owns 9,895 shares of the company’s stock worth $32,000 after purchasing an additional 4,000 shares during the period. Ping Capital Management Inc. purchased a new stake in shares of Lithium Americas (Argentina) in the second quarter worth $35,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Lithium Americas (Argentina) in the second quarter worth $36,000. Finally, Legacy Capital Group California Inc. purchased a new stake in shares of Lithium Americas (Argentina) in the third quarter worth $36,000. 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.