Lithium Americas (NYSE:LAC) Stock Price Expected to Rise, B. Riley Analyst Says

Lithium Americas (NYSE:LAC) had its price target raised by B. Riley from $4.50 to $5.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. B. Riley also issued estimates for Lithium Americas’ Q4 2024 earnings at ($0.02) EPS, FY2024 earnings at ($0.13) EPS, FY2025 earnings at ($0.36) EPS and FY2026 earnings at ($0.48) EPS.

Several other equities research analysts have also issued reports on LAC. Scotiabank dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “sector perform” rating for the company in a research report on Friday, October 18th. Piper Sandler started coverage on Lithium Americas in a research note on Monday, July 29th. They set a “neutral” rating and a $3.90 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Lithium Americas from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Friday, August 16th. BMO Capital Markets raised shares of Lithium Americas to a “hold” rating in a report on Wednesday, October 23rd. Finally, National Bank Financial raised shares of Lithium Americas from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 17th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.63.

Lithium Americas Stock Down 3.6 %

Shares of NYSE:LAC opened at $3.73 on Tuesday. Lithium Americas has a 52-week low of $2.02 and a 52-week high of $7.71. The company has a market capitalization of $823.10 million and a P/E ratio of -30.25. The stock’s fifty day simple moving average is $3.10 and its 200-day simple moving average is $3.09.

Lithium Americas (NYSE:LAC) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). On average, sell-side analysts anticipate that Lithium Americas will post -0.1 earnings per share for the current year.

Institutional Trading of Lithium Americas

A number of large investors have recently made changes to their positions in the company. Fairscale Capital LLC bought a new position in shares of Lithium Americas in the 2nd quarter valued at about $27,000. AE Wealth Management LLC acquired a new stake in shares of Lithium Americas during the 2nd quarter worth approximately $27,000. Evergreen Capital Management LLC acquired a new stake in shares of Lithium Americas in the 2nd quarter valued at approximately $27,000. Quent Capital LLC raised its holdings in Lithium Americas by 100.0% in the 3rd quarter. Quent Capital LLC now owns 10,000 shares of the company’s stock valued at $27,000 after buying an additional 5,000 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new position in Lithium Americas during the 2nd quarter worth $30,000.

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.