Lithium Americas Corp. (NYSE:LAC) Forecasted to Earn FY2021 Earnings of ($0.56) Per Share

Lithium Americas Corp. (NYSE:LAC) – Analysts at Piper Sandler dropped their FY2021 earnings per share estimates for shares of Lithium Americas in a research note issued to investors on Monday, November 22nd. Piper Sandler analyst G. Tuttle now anticipates that the company will earn ($0.56) per share for the year, down from their prior estimate of ($0.49). Piper Sandler currently has a “Neutral” rating and a $32.00 target price on the stock. Piper Sandler also issued estimates for Lithium Americas’ Q4 2021 earnings at ($0.17) EPS, Q1 2022 earnings at ($0.44) EPS, Q2 2022 earnings at ($0.12) EPS, Q3 2022 earnings at ($0.08) EPS and FY2022 earnings at ($0.71) EPS.

Lithium Americas (NYSE:LAC) last released its quarterly earnings data on Monday, November 15th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.05).

Other analysts have also recently issued research reports about the stock. TD Securities increased their price objective on shares of Lithium Americas from C$36.00 to C$45.00 and gave the stock a “hold” rating in a report on Thursday, November 18th. Zacks Investment Research cut shares of Lithium Americas from a “buy” rating to a “hold” rating in a report on Friday, October 22nd. Cowen raised their price target on shares of Lithium Americas from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, August 30th. Canaccord Genuity raised their price target on shares of Lithium Americas from C$35.00 to C$46.00 and gave the stock a “buy” rating in a report on Thursday, November 18th. Finally, National Bank Financial raised their price objective on shares of Lithium Americas from $32.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, November 18th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Lithium Americas presently has an average rating of “Buy” and an average price target of $33.19.

Shares of LAC stock opened at $36.40 on Wednesday. Lithium Americas has a twelve month low of $8.95 and a twelve month high of $39.04. The company has a current ratio of 57.43, a quick ratio of 57.43 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $4.37 billion, a PE ratio of -74.28 and a beta of 1.34. The firm has a fifty day simple moving average of $27.34 and a 200-day simple moving average of $19.80.

Large investors have recently made changes to their positions in the business. Fifth Third Bancorp bought a new stake in Lithium Americas during the 2nd quarter worth about $50,000. Northern Oak Wealth Management Inc. increased its stake in shares of Lithium Americas by 335.7% in the 2nd quarter. Northern Oak Wealth Management Inc. now owns 2,135 shares of the company’s stock valued at $32,000 after acquiring an additional 1,645 shares during the last quarter. Formidable Asset Management LLC increased its stake in shares of Lithium Americas by 21.6% in the 2nd quarter. Formidable Asset Management LLC now owns 521,866 shares of the company’s stock valued at $7,023,000 after acquiring an additional 92,667 shares during the last quarter. RWC Asset Management LLP increased its stake in shares of Lithium Americas by 24.5% in the 2nd quarter. RWC Asset Management LLP now owns 128,979 shares of the company’s stock valued at $2,376,000 after acquiring an additional 25,379 shares during the last quarter. Finally, CIBC World Markets Inc. increased its stake in shares of Lithium Americas by 105.0% in the 2nd quarter. CIBC World Markets Inc. now owns 21,399 shares of the company’s stock valued at $318,000 after acquiring an additional 10,959 shares during the last quarter. 13.23% of the stock is owned by hedge funds and other institutional investors.

About Lithium Americas

Lithium Americas Corp. is a resource company, which engages in lithium development projects. Its projects include: Thacker Pass and Caucharí-Olaroz. The company was founded by Raymond Edward Flood, Jr. on November 27, 2007 and is headquartered in Vancouver, Canada.

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Earnings History and Estimates for Lithium Americas (NYSE:LAC)

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