For Lithium Americas Corp. [LAC], Analyst sees a rise to $38. What next?


Lithium Americas Corp. [NYSE: LAC] stock went on a downward path that fall over -7.37% on Tuesday, amounting to a one-week price decrease of less than -21.48%. 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.”.

Over the last 12 months, LAC stock rose by 65.35%. The one-year Lithium Americas Corp. stock forecast points to a potential upside of 29.75. The average equity rating for LAC stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $4.99 billion, with 120.22 million shares outstanding and 113.97 million shares in the current float. Compared to the average trading volume of 4.52M shares, LAC stock reached a trading volume of 4892033 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]:

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 2.68 The Price to Book ratio for the last quarter was 4.48, with the Price to Cash per share for the same quarter was set at 3.23.

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 -21.48. With this latest performance, LAC shares dropped by -27.04% in over the last four-week period, additionally sinking by -5.63% over the last 6 months – not to mention a rise of 65.35% 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 35.90, with the RSI for the last a single of trading hit 29.10, and the three-weeks RSI is set at 40.28 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 29.75, while it was recorded at 27.71 for the last single week of trading, and 26.18 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 $661 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 $56.27 million in LAC stocks shares; and DISCOVERY VALUE FUND, currently with $50.11 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 146 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 8,588,959 shares. Additionally, 63 investors decreased positions by around 4,628,983 shares, while 28 investors held positions by with 11,144,360 shares. The mentioned changes placed institutional holdings at 24,362,302 shares, according to the latest SEC report filing. LAC stock had 84 new institutional investments in for a total of 3,626,001 shares, while 16 institutional investors sold positions of 1,145,971 shares during the same period.