Lithium Americas Corp. [NYSE: LAC] stock went on a downward path that fall over -6.59% on Thursday, amounting to a one-week price decrease of less than -7.12%. The company report on January 22, 2021 that Lithium Americas Closes US$400 Million Underwritten Public Offering.
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.
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.
Over the last 12 months, LAC stock rose by 236.92%.
The market cap for the stock reached $2.35 billion, with 119.37 million shares outstanding and 72.47 million shares in the current float. Compared to the average trading volume of 7.13M shares, LAC stock reached a trading volume of 5938660 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 2.24 The Price to Book ratio for the last quarter was 17.77.
LAC Stock Performance Analysis:
Lithium Americas Corp. [LAC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.12. With this latest performance, LAC shares dropped by -26.51% in over the last four-week period, additionally plugging by 159.34% over the last 6 months – not to mention a rise of 236.92% 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 48.56, with the RSI for the last a single of trading hit 42.33, and the three-weeks RSI is set at 52.09 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 16.97, while it was recorded at 21.46 for the last single week of trading, and 9.99 for the last 200 days.
Insight into Lithium Americas Corp. 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 Position Details
There are presently around $327 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 3,768,838, which is approximately 51.464% of the company’s market cap and around 30.26% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 1,255,823 shares of the stock with an approximate value of $24.75 million in LAC stocks shares; and VOLORIDGE INVESTMENT MANAGEMENT, LLC, currently with $16.95 million in LAC stock with ownership of nearly 238.812% of the company’s market capitalization.
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 84 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 9,438,928 shares. Additionally, 15 investors decreased positions by around 266,143 shares, while 15 investors held positions by with 6,868,723 shares. The mentioned changes placed institutional holdings at 16,573,794 shares, according to the latest SEC report filing. LAC stock had 43 new institutional investments in for a total of 3,579,549 shares, while 7 institutional investors sold positions of 114,418 shares during the same period.