The stock of Lithium Americas Corp (NYSE:LAC) last traded at $17.01, down -0.70% from the previous session.
Data from the available sources indicates that Lithium Americas Corp (NYSE:LAC) is covered by 14 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $40.87 and a low of $25.00, we find $36.00. Given the previous closing price of $17.13, this indicates a potential upside of 110.16 percent. LAC stock price is now -7.91% away from the 50-day moving average and -17.39% away from the 200-day moving average. The market capitalization of the company currently stands at $2.72B.
In total, 0 analysts have assigned it a hold rating, and 13 have given it a buy rating. Brokers who have rated the stock have averaged $35.57 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).
A total of 28.62% 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 DECADE RENEWABLE PARTNERS LP during the first quarter worth $5,489,000. CAPITAL FUND MANAGEMENT S.A. invested $4,666,000 in shares of LAC during the first quarter. In the first quarter, PALOMA PARTNERS MANAGEMENT CO acquired a new stake in Lithium Americas Corp valued at approximately $2,092,000. LMR PARTNERS LLP acquired a new stake in LAC for approximately $1,701,000. AUSBIL INVESTMENT MANAGEMENT LTD purchased a new stake in LAC valued at around $1,523,000 in the second quarter. In total, there are 351 active investors with 21.99% ownership of the company’s stock.
With an opening price of $17.50 on Friday morning, Lithium Americas Corp (NYSE: LAC) set off the trading day. During the past 12 months, Lithium Americas Corp has had a low of $16.07 and a high of $29.48. As of last week, the company has a debt-to-equity ratio of 0.16, a current ratio of 10.13, and a quick ratio of 10.13. The fifty day moving average price for LAC is $18.40 and a two-hundred day moving average price translates $20.56 for the stock.
The latest earnings results from Lithium Americas Corp (NYSE: LAC) was released for Jun, 2023. According to the Other Industrial Metals & Mining Company, earnings per share came in at $0.16, beating analysts’ expectations of -$0.09 by 0.25. This compares to -$0.12 EPS in the same period last year. The company reported revenue of $16.95 million for the quarter, compared to $90.33 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -81.24 percent. For the current quarter, analysts expect LAC to generate $59.3M 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.
