Monday, March 1, 2021

Stifel lifts Lithium Americas Corp. [LAC] price estimate. Who else is bullish?

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Lithium Americas Corp. [NYSE: LAC] surged by $2.88 during the normal trading session on Monday and reaching a high of $23.19 during the day while it closed the day at $22.57. 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.

Lithium Americas Corp. stock has also gained 17.25% of its value over the past 7 days. However, LAC stock has inclined by 103.52% in the 3 months of the year. Over the past six months meanwhile, it has gained 219.24% and gained 79.84% year-on date.

The market cap for LAC stock reached $2.69 billion, with 119.37 million shares outstanding and 72.47 million shares in the current float. Compared to the average trading volume of 6.72M shares, LAC reached a trading volume of 11714780 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 2.15 The Price to Book ratio for the last quarter was 20.35.

LAC stock trade performance evaluation

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.25. With this latest performance, LAC shares gained by 18.85% in over the last four-week period, additionally plugging by 219.24% over the last 6 months – not to mention a rise of 445.17% 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 62.20, with the RSI for the last a single of trading hit 63.00, and the three-weeks RSI is set at 62.20 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 15.49, while it was recorded at 20.48 for the last single week of trading, and 9.35 for the last 200 days.

Lithium Americas Corp. [LAC]: An insightful look at the core fundamentals

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.

Lithium Americas Corp. [LAC]: Insider Ownership positions

There are presently around $213 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 $24.35 million in LAC stocks shares; and AXEL CAPITAL MANAGEMENT, LLC, currently with $17.61 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 65 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 7,171,513 shares. Additionally, 20 investors decreased positions by around 2,506,365 shares, while 13 investors held positions by with 241,477 shares. The mentioned changes placed institutional holdings at 9,436,401 shares, according to the latest SEC report filing. LAC stock had 43 new institutional investments in for a total of 5,958,819 shares, while 12 institutional investors sold positions of 212,413 shares during the same period.

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