Lithium Americas Corp. [LAC] is -2.30% lower this YTD. Is it still time to buy?


Lithium Americas Corp. [NYSE: LAC] gained 8.84% on the last trading session, reaching $28.45 price per share at the time. The company report on April 28, 2022 that Lithium Americas Announces US$10 Million Strategic Equity Investment in Green Technology Metals.

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Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce that it has entered into an agreement to acquire shares of Green Technology Metals Ltd. (ASX: GT1) (“GT1”) in a share placement for total consideration of US$10 million. GT1 is a North American focused lithium exploration and development company with hard rock spodumene assets in north-west Ontario, Canada (“Ontario Lithium Projects”).

“GT1’s team brings a strong track record of lithium exploration and resource extraction, which fits well with Lithium Americas’ expertise in chemical processing,” commented Jon Evans, Lithium Americas’ President and CEO. “With this initial investment, we look forward to working closely with GT1 to help accelerate the development of a North American lithium supply chain.”.

Lithium Americas Corp. represents 120.22 million in outstanding shares, while the company has a total market value of $5.02 billion with the latest information. LAC stock price has been found in the range of $25.80 to $28.5299.

If compared to the average trading volume of 4.62M shares, LAC reached a trading volume of 6232811 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 2.52 The Price to Book ratio for the last quarter was 4.98, with the Price to Cash per share for the same quarter was set at 3.71.

Trading performance analysis for LAC stock

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.30. With this latest performance, LAC shares dropped by -26.62% in over the last four-week period, additionally sinking by -2.07% over the last 6 months – not to mention a rise of 111.84% 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 48.96, with the RSI for the last a single of trading hit 52.37, and the three-weeks RSI is set at 48.58 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 29.47, while it was recorded at 26.24 for the last single week of trading, and 26.55 for the last 200 days.

Lithium Americas Corp. [LAC]: A deeper dive into fundamental analysis

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.

An analysis of insider ownership at Lithium Americas Corp. [LAC]

There are presently around $643 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 $54.18 million in LAC stocks shares; and DISCOVERY VALUE FUND, currently with $48.25 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 151 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 8,311,813 shares. Additionally, 64 investors decreased positions by around 4,586,617 shares, while 33 investors held positions by with 11,681,289 shares. The mentioned changes placed institutional holdings at 24,579,719 shares, according to the latest SEC report filing. LAC stock had 88 new institutional investments in for a total of 3,672,843 shares, while 20 institutional investors sold positions of 1,166,126 shares during the same period.