Lithium Americas Corp. [LAC] Stock trading around $33.73 per share: What’s Next?


Lithium Americas Corp. [NYSE: LAC] traded at a high on 01/04/22, posting a 9.55 gain after which it closed the day’ session at $33.73. 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.”.

The results of the trading session contributed to over 7639576 shares changing hands. Over the past one week, the price volatility of Lithium Americas Corp. stands at 5.73% while the volatility over the past one month is 6.82%.

The market cap for LAC stock reached $5.22 billion, with 119.93 million shares outstanding and 100.12 million shares in the current float. Compared to the average trading volume of 4.50M shares, LAC reached a trading volume of 7639576 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 2.31 The Price to Book ratio for the last quarter was 6.02, with the Price to Cash per share for the same quarter was set at 3.97.

How has LAC stock performed recently?

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.15. With this latest performance, LAC shares gained by 7.45% in over the last four-week period, additionally plugging by 144.60% over the last 6 months – not to mention a rise of 130.40% 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 58.66, with the RSI for the last a single of trading hit 65.61, and the three-weeks RSI is set at 56.33 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 32.06, while it was recorded at 30.44 for the last single week of trading, and 20.54 for the last 200 days.

Lithium Americas Corp. [LAC]: Deeper insight into the fundamentals

Lithium Americas Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 57.40.

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Insider trade positions for Lithium Americas Corp. [LAC]

There are presently around $630 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 $69.0 million in LAC stocks shares; and DISCOVERY VALUE FUND, currently with $58.23 million in LAC stock with ownership of nearly New of the company’s market capitalization.

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.