Lithium Americas Corp. [LAC] moved up 4.08: Why It’s Important

Lithium Americas Corp. [NYSE: LAC] price surged by 4.08 percent to reach at $0.91. The company report on October 7, 2022 that Lithium Americas Confirms Oral Hearing Schedule for the Thacker Pass Record of Decision Appeal.

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Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) provides an update on the appeal of the issuance of the Record of Decision (“ROD”) for the Thacker Pass lithium project (“Thacker Pass” or the “Project”), located in Humboldt County, Nevada. Following the completion of briefings on August 11, 2022, the US District Court, District of Nevada (“Federal Court”) has scheduled an oral hearing for January 5, 2023.

“With all state and federal permits received to begin construction, the ruling on Thacker Pass’ ROD represents the final regulatory hurdle to move forward the largest and most advanced lithium chemicals project in the US,” said Jonathan Evans, President and CEO. “We stand ready to develop a critical source of lithium supply, creating jobs and enabling a more sustainable battery ecosystem in North America. As we await a ruling by the Federal Court, we are moving ahead with all areas required to support construction, including final selection of an EPCM contractor, evaluating partnership and supply agreements, as well as progressing our application with the US Department of Energy loan program.”.

A sum of 3455052 shares traded at recent session while its average daily volume was at 2.40M shares. Lithium Americas Corp. shares reached a high of $23.50 and dropped to a low of $20.81 until finishing in the latest session at $23.21.

The one-year LAC stock forecast points to a potential upside of 40.04. The average equity rating for LAC stock is currently 2.00, 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 $38.71 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 2.00. 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 September 20, 2022. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on February 25, 2022, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise to $36, while HSBC Securities analysts kept a Buy rating on LAC stock. On January 12, 2022, analysts increased their price target for LAC shares from 30 to 40.

The Average True Range (ATR) for Lithium Americas Corp. is set at 1.81 The Price to Book ratio for the last quarter was 2.80, with the Price to Cash per share for the same quarter was set at 2.85.

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 -14.51. With this latest performance, LAC shares dropped by -26.78% in over the last four-week period, additionally sinking by -24.86% over the last 6 months – not to mention a drop of -9.44% 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 36.53, with the RSI for the last a single of trading hit 33.64, and the three-weeks RSI is set at 39.70 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 28.27, while it was recorded at 23.02 for the last single week of trading, and 26.83 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 Quick Ratio of 44.10 and a Current Ratio set at 44.10.

Lithium Americas Corp. [LAC] Insider Position Details

There are presently around $723 million, or 25.53% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: FIFTHDELTA LTD with ownership of 6,345,353, which is approximately 152.308% of the company’s market cap and around 16.82% of the total institutional ownership; HIMENSION CAPITAL (SINGAPORE) PTE. LTD., holding 3,323,489 shares of the stock with an approximate value of $77.14 million in LAC stocks shares; and VANGUARD GROUP INC, currently with $72.12 million in LAC stock with ownership of nearly 1.981% of the company’s market capitalization.

Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 116 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 8,807,896 shares. Additionally, 142 investors decreased positions by around 10,918,646 shares, while 50 investors held positions by with 11,423,998 shares. The mentioned changes placed institutional holdings at 31,150,540 shares, according to the latest SEC report filing. LAC stock had 43 new institutional investments in for a total of 1,709,208 shares, while 77 institutional investors sold positions of 3,448,992 shares during the same period.


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