Stocks of Lithium Americas Corp. (NYSE:LAC) traded higher last session on Wall Street, up 3.85% to $20.21.
According to the data, Lithium Americas Corp. (NYSE:LAC) has 14 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $42.50 and a low of $26.00, we find $36.00. Given the previous closing price of $19.46, this indicates a potential upside of 84.99 percent. LAC stock price is now -2.54% away from the 50-day moving average and -11.20% away from the 200-day moving average. The market capitalization of the company currently stands at $3.21B.
A total of 0 analysts have issued a hold rating and 13 have given it a buy rating. Brokers who have rated the stock have averaged $36.09 as their price target over the next twelve months.
With the price target of $35, Evercore ISI recently initiated with Outperform rating for Lithium Americas Corp. (NYSE: LAC).
Insiders disposed of 193,204 shares of company stock worth roughly $3.9 million over the past 1 year. A total of 14.63% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LAC stock. A new stake in Lithium Americas Corp. shares was purchased by GENERAL MOTORS HOLDINGS LLC during the first quarter worth $303,195,000. ARCTIS GLOBAL LLC invested $5,637,000 in shares of LAC during the first quarter. In the first quarter, SCULPTOR CAPITAL LP acquired a new stake in Lithium Americas Corp. valued at approximately $2,918,000. MARSHALL WACE, LLP acquired a new stake in LAC for approximately $2,802,000. JANUS HENDERSON GROUP PLC purchased a new stake in LAC valued at around $654,000 in the second quarter. In total, there are 344 active investors with 24.10% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $19.70 for Lithium Americas Corp. (NYSE: LAC). During the past 12 months, Lithium Americas Corp. has had a low of $17.58 and a high of $33.10. As of last week, the company has a debt-to-equity ratio of 0.20, a current ratio of 10.00, and a quick ratio of 10.00. The fifty day moving average price for LAC is $20.74 and a two-hundred day moving average price translates $22.70 for the stock.
The latest earnings results from Lithium Americas Corp. (NYSE: LAC) was released for Mar, 2023. According to the Other Industrial Metals & Mining Company, earnings per share came in at -$0.04, beating analysts’ expectations of -$0.15 by 0.11. This compares to -$0.35 EPS in the same period last year. The company reported revenue of $17.13 million for the quarter, compared to $16.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 7.04 percent. For the current quarter, analysts expect LAC to generate $6.65M in revenue.
Lithium Americas Corp.(LAC) Company Profile
Lithium Americas Corp. operates as a resource company in the United States and Argentina. The company explores for lithium deposits. It owns interests in the Cauchari-Olaroz project located in Jujuy province of Argentina; Thacker Pass project located in north-western Nevada; and Pastos Grandes project located in the Salta province of Argentina. The company was formerly known as Western Lithium USA Corporation and changed its name to Lithium Americas Corp. in March 2016. Lithium Americas Corp. is headquartered in Vancouver, Canada.
