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



Lithium Americas Corp. [NYSE: LAC] price surged by 7.59 percent to reach at $2.26. The company report on April 14, 2022 that Lithium Americas Submits Formal Application for Department of Energy ATVM Loan Program.

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Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce the Company has submitted a formal application to the US Department of Energy (“DOE”) Loan Programs Office (“LPO”) for funding to be used at its 100%-owned Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass”) through the Advanced Technology Vehicles Manufacturing Loan Program (“ATVM Loan Program”). The ATVM Loan Program is designed to provide loans for facilities located in the United States for the manufacturing of advanced technology vehicles and qualifying components used in those vehicles.

“Thacker Pass is a unique, large-scale and advanced-stage lithium project representing one of the most significant opportunities to create a domestic lithium supply chain to support the production of electric vehicles in the US,” said Jonathan Evans, President and CEO. “We are pleased to submit our formal loan application and look forward to progressing through the ATVM Loan Program process to accelerate development of Thacker Pass. We are very excited to become a leading supplier of domestic critical materials to support the growth of the domestic battery and electric vehicle industry in response to increased demand and interest from US-based consumers.”.

A sum of 5449714 shares traded at recent session while its average daily volume was at 4.44M shares. Lithium Americas Corp. shares reached a high of $32.0776 and dropped to a low of $29.375 until finishing in the latest session at $32.03.

The one-year LAC stock forecast points to a potential upside of 10.53. 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.

Stifel have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 25, 2022. While these analysts kept the previous recommendation, HSBC Securities raised their target price to Buy. The new note on the price target was released on January 27, 2022, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise from $30 to $40, while Cowen kept a Outperform rating on LAC stock.

The Average True Range (ATR) for Lithium Americas Corp. is set at 2.57 The Price to Book ratio for the last quarter was 5.71, with the Price to Cash per share for the same quarter was set at 3.69.

LAC Stock Performance Analysis:

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.67. With this latest performance, LAC shares gained by 14.19% in over the last four-week period, additionally plugging by 25.31% over the last 6 months – not to mention a rise of 140.83% 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 51.62, with the RSI for the last a single of trading hit 51.07, and the three-weeks RSI is set at 52.11 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 29.81, while it was recorded at 30.33 for the last single week of trading, and 25.84 for the last 200 days.

Insight into Lithium Americas Corp. Fundamentals:

Return on Equity for this stock declined to -10.52, with Return on Assets sitting at -6.68.

Lithium Americas Corp.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 64.50.

Lithium Americas Corp. [LAC] Insider Position Details

There are presently around $717 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 2,346,735, which is approximately 3.378% of the company’s market cap and around 16.70% of the total institutional ownership; RENAISSANCE TECHNOLOGIES LLC, holding 2,072,700 shares of the stock with an approximate value of $61.7 million in LAC stocks shares; and DISCOVERY VALUE FUND, currently with $54.95 million in LAC stock with ownership of nearly -2.4% of the company’s market capitalization.

Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 144 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 8,347,184 shares. Additionally, 63 investors decreased positions by around 4,656,561 shares, while 27 investors held positions by with 11,084,051 shares. The mentioned changes placed institutional holdings at 24,087,796 shares, according to the latest SEC report filing. LAC stock had 85 new institutional investments in for a total of 3,382,011 shares, while 17 institutional investors sold positions of 1,175,331 shares during the same period.