Lithium Americas Corp. [LAC] stock Upgrade by Piper Sandler analyst, price target now $41


Lithium Americas Corp. [NYSE: LAC] price surged by 13.94 percent to reach at $3.73. The company report on January 5, 2022 that Lithium Americas Reports Millennial Lithium Shareholder Approval of Transaction.

Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce that earlier today approximately 98% of Millennial Lithium Corp. (TSXV: ML) (“Millennial”) shareholders and warrantholders voted in favor to approve the acquisition by Lithium Americas of all of the issued and outstanding common shares of Millennial by way of a statutory plan of arrangement, as previously announced on November 17, 2021 (the “Transaction”).

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Approval from Millennial shareholders and warrantholders is a pivotal step in the Transaction, and the parties are now in a position to proceed with the final court order and then closing of the Transaction, with closing expected to occur on or about January 25, 2022.

A sum of 7350351 shares traded at recent session while its average daily volume was at 4.69M shares. Lithium Americas Corp. shares reached a high of $30.72 and dropped to a low of $27.44 until finishing in the latest session at $30.49.

The one-year LAC stock forecast points to a potential upside of 14.83. The average equity rating for LAC stock is currently 2.60, trading closer to a bullish pattern in the stock market.

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

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LAC shares is $35.80 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LAC stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Piper Sandler have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 11, 2022. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $31 to $34. The new note on the price target was released on January 11, 2022, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise from $25 to $31, while Deutsche Bank kept a Hold rating on LAC stock.

The Average True Range (ATR) for Lithium Americas Corp. is set at 2.44 The Price to Book ratio for the last quarter was 5.44, with the Price to Cash per share for the same quarter was set at 3.82.

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 -9.61. With this latest performance, LAC shares dropped by -9.28% in over the last four-week period, additionally plugging by 118.25% over the last 6 months – not to mention a rise of 59.80% 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 50.22, with the RSI for the last a single of trading hit 51.97, and the three-weeks RSI is set at 50.13 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 32.22, while it was recorded at 29.09 for the last single week of trading, and 20.91 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 $624 million, or 24.46% 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 16.70% of the total institutional ownership; VAN ECK ASSOCIATES CORP, holding 2,241,027 shares of the stock with an approximate value of $68.33 million in LAC stocks shares; and DISCOVERY VALUE FUND, currently with $57.66 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 April and at the time of the April reporting period, where 94 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 8,573,529 shares. Additionally, 54 investors decreased positions by around 4,351,120 shares, while 29 investors held positions by with 7,544,043 shares. The mentioned changes placed institutional holdings at 20,468,692 shares, according to the latest SEC report filing. LAC stock had 44 new institutional investments in for a total of 5,428,555 shares, while 25 institutional investors sold positions of 2,072,685 shares during the same period.