Friday, March 5, 2021

Lithium Americas Corp. [LAC] moved down -0.77: Why It’s Important

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Lithium Americas Corp. [NYSE: LAC] loss -0.77% or -0.18 points to close at $23.05 with a heavy trading volume of 13454711 shares. The company report on January 22, 2021 that Lithium Americas Closes US$400 Million Underwritten Public Offering.

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Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) announced the closing of its previously announced underwritten public offering (the “Offering”) of shares of its common stock (the “Common Shares”). The Company issued 18,181,818 Common Shares, including 2,272,727 Common Shares following the exercise in full by the underwriters of their over-allotment option. The shares were issued at a price of US$22.00 per Common Share for gross proceeds to the Company of approximately US$400 million.


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Canaccord Genuity acted as lead book-running manager for the Offering, Deutsche Bank Securities, Evercore ISI and Stifel acted as joint book-running managers and National Bank Financial and Cormark Securities acted as co-managers.

It opened the trading session at $24.04, the shares rose to $25.16 and dropped to $22.37, the range by which the price of stock traded the whole day. The daily chart for LAC points out that the company has recorded 298.79% gains over the past six months. However, it is still -1100.52% lower than its most recent low trading price.

If we look at the average trading volume of 5.89M shares, LAC reached to a volume of 13454711 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Lithium Americas Corp. [LAC]:

Stifel have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 23, 2020. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $15 to $13.50. The new note on the price target was released on October 21, 2020, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise to $9.50, while ROTH Capital analysts kept a Buy rating on LAC stock.

The Average True Range (ATR) for Lithium Americas Corp. is set at 2.21 The Price to Book ratio for the last quarter was 20.78.

Trading performance analysis for LAC stock

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.27. With this latest performance, LAC shares gained by 103.08% in over the last four-week period, additionally plugging by 298.79% over the last 6 months – not to mention a rise of 480.60% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LAC stock in for the last two-week period is set at 66.98, with the RSI for the last a single of trading hit 65.01, and the three-weeks RSI is set at 67.14 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 13.54, while it was recorded at 23.65 for the last single week of trading, and 8.48 for the last 200 days.

Lithium Americas Corp. [LAC]: A deeper dive into fundamental analysis

Return on Total Capital for LAC is now -11.35, given the latest momentum, and Return on Invested Capital for the company is 31.64. Return on Equity for this stock inclined to 44.75, with Return on Assets sitting at 27.33. When it comes to the capital structure of this company, Lithium Americas Corp. [LAC] has a Total Debt to Total Equity ratio set at 52.03. Additionally, LAC Total Debt to Total Capital is recorded at 34.22, with Total Debt to Total Assets ending up at 28.27. Long-Term Debt to Equity for the company is recorded at 52.03, with the Long-Term Debt to Total Capital now at 34.22.

Reflecting on the efficiency of the workforce at the company, Lithium Americas Corp. [LAC] managed to generate an average of $1,880,633 per employee.

An analysis of insider ownership at Lithium Americas Corp. [LAC]

There are presently around $193 million, or 16.89% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: INVESCO LTD. with ownership of 2,488,265, which is approximately New of the company’s market cap and around 30.26% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 1,078,725 shares of the stock with an approximate value of $24.86 million in LAC stocks shares; and AXEL CAPITAL MANAGEMENT, LLC, currently with $17.98 million in LAC stock with ownership of nearly New of the company’s market capitalization.

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Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 59 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 6,622,607 shares. Additionally, 18 investors decreased positions by around 2,489,158 shares, while 12 investors held positions by with 727,683 shares. The mentioned changes placed institutional holdings at 8,384,082 shares, according to the latest SEC report filing. LAC stock had 40 new institutional investments in for a total of 6,020,328 shares, while 12 institutional investors sold positions of 196,537 shares during the same period.

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