Market Analysts see Lithium Americas Corp. [LAC] gaining to $31. Time to buy?



Lithium Americas Corp. [NYSE: LAC] price plunged by -2.00 percent to reach at -$0.59. The company report on December 9, 2021 that Lithium Americas Closes Over-Allotment on Convertible Senior Notes Offering.

Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) today announced that the initial purchasers under its previously announced offering of US$225,000,000 aggregate principal amount of 1.75% convertible senior notes due 2027 (the “Notes” and the “Offering”) have exercised, in full, their option to purchase up to an additional US$33,750,000 aggregate principal amount of Notes (the “Over-Allotment Option”), increasing the total Offering size to US$258,750,000.

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“With the Offering complete and our US$205 million senior secured facility fully repaid, we have significantly enhanced our balance sheet while minimizing potential dilution to shareholders and reducing interest cost,” commented Jon Evans, President and CEO. “Additionally, by removing security over Thacker Pass, we increase our flexibility as we continue to advance the strategic partnership and financing process.”.

A sum of 2396235 shares traded at recent session while its average daily volume was at 4.65M shares. Lithium Americas Corp. shares reached a high of $29.43 and dropped to a low of $28.25 until finishing in the latest session at $28.96.

Guru’s Opinion on Lithium Americas Corp. [LAC]:

Deutsche Bank have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on November 16, 2021. While these analysts kept the previous recommendation, TD Securities raised their target price to Hold. The new note on the price target was released on October 28, 2021, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise to $20, while Piper Sandler analysts kept a Neutral rating on LAC stock.

The Average True Range (ATR) for Lithium Americas Corp. is set at 2.42 The Price to Book ratio for the last quarter was 5.13, with the Price to Cash per share for the same quarter was set at 4.01.

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 -0.96. With this latest performance, LAC shares dropped by -29.30% in over the last four-week period, additionally plugging by 95.15% over the last 6 months – not to mention a rise of 142.95% 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 42.76, with the RSI for the last a single of trading hit 39.80, and the three-weeks RSI is set at 45.78 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 31.66, while it was recorded at 29.41 for the last single week of trading, and 20.25 for the last 200 days.

Insight into Lithium Americas Corp. Fundamentals:

Return on Total Capital for LAC is now -12.08, given the latest momentum, and Return on Invested Capital for the company is -13.27. Return on Equity for this stock declined to -21.00, with Return on Assets sitting at -11.85. When it comes to the capital structure of this company, Lithium Americas Corp. [LAC] has a Total Debt to Total Equity ratio set at 63.57. Additionally, LAC Total Debt to Total Capital is recorded at 38.86, with Total Debt to Total Assets ending up at 37.10. Long-Term Debt to Equity for the company is recorded at 63.57, with the Long-Term Debt to Total Capital now at 38.86.

Reflecting on the efficiency of the workforce at the company, Lithium Americas Corp. [LAC] managed to generate an average of -$1,181,049 per employee.Lithium Americas Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 57.40.

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Lithium Americas Corp. [LAC] Insider Position Details

There are presently around $605 million, or 20.82% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: HIMENSION CAPITAL (SINGAPORE) PTE. LTD. with ownership of 2,270,045, which is approximately New of the company’s market cap and around 16.74% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 2,241,027 shares of the stock with an approximate value of $66.22 million in LAC stocks shares; and DISCOVERY VALUE FUND, currently with $55.88 million in LAC stock with ownership of nearly New of the company’s market capitalization.

Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 92 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 8,572,929 shares. Additionally, 55 investors decreased positions by around 4,351,620 shares, while 29 investors held positions by with 7,543,543 shares. The mentioned changes placed institutional holdings at 20,468,092 shares, according to the latest SEC report filing. LAC stock had 43 new institutional investments in for a total of 5,428,355 shares, while 25 institutional investors sold positions of 2,072,685 shares during the same period.