Lithium Americas Corp. [LAC] stock Resumed by Stifel analyst, price target now $38


Lithium Americas Corp. [NYSE: LAC] closed the trading session at $23.76 on 07/21/22. The day’s price range saw the stock hit a low of $22.46, while the highest price level was $23.78. The company report on July 20, 2022 that Lithium Americas Celebrates Inauguration of Lithium Technical Development Center in Nevada and Provides Thacker Pass Update.

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Inauguration of Lithium Technical Development Center in Reno, Nevada.

Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) celebrated the inauguration of its Lithium Technical Development Center (“LiTDC”) in Reno, Nevada, USA, with a formal ribbon-cutting ceremony today. Lithium Americas’ President and CEO, Jonathan Evans, was joined by Nevada Governor, Steve Sisolak; and University of Nevada, Reno President, Brian Sandoval. The LiTDC was developed to demonstrate the chemical process designed for the Company’s Thacker Pass lithium project (“Thacker Pass”) in Humboldt Country, Nevada in an integrated process testing facility.

The stocks have a year to date performance of -18.41 percent and weekly performance of 15.51 percent. The stock has been moved at -13.98 percent over the last six months. The stock has performed 10.92 percent around the most recent 30 days and changed -25.02 percent over the most recent 3-months.

If compared to the average trading volume of 3.31M shares, LAC reached to a volume of 3517446 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Lithium Americas Corp. [LAC]:

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 1.30 The Price to Book ratio for the last quarter was 2.86, with the Price to Cash per share for the same quarter was set at 3.59.

LAC stock trade performance evaluation

Lithium Americas Corp. [LAC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.51. With this latest performance, LAC shares gained by 10.92% in over the last four-week period, additionally sinking by -13.98% over the last 6 months – not to mention a rise of 67.44% 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 60.28, with the RSI for the last a single of trading hit 69.79, and the three-weeks RSI is set at 54.80 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 22.42, while it was recorded at 21.95 for the last single week of trading, and 27.58 for the last 200 days.

Lithium Americas Corp. [LAC]: An insightful look at the core 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 51.20.

Lithium Americas Corp. [LAC]: Insider Ownership positions

There are presently around $748 million, or 23.90% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: MIRAE ASSET GLOBAL INVESTMENTS CO., LTD. with ownership of 3,555,786, which is approximately 94.416% of the company’s market cap and around 14.93% of the total institutional ownership; VANGUARD GROUP INC, holding 3,047,023 shares of the stock with an approximate value of $68.71 million in LAC stocks shares; and FIFTHDELTA LTD, currently with $56.71 million in LAC stock with ownership of nearly 256.178% of the company’s market capitalization.

Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 171 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 14,359,721 shares. Additionally, 85 investors decreased positions by around 5,296,554 shares, while 47 investors held positions by with 13,522,398 shares. The mentioned changes placed institutional holdings at 33,178,673 shares, according to the latest SEC report filing. LAC stock had 84 new institutional investments in for a total of 4,523,003 shares, while 33 institutional investors sold positions of 905,421 shares during the same period.