Lithium Americas Corp. [NYSE: LAC] price surged by 14.73 percent to reach at $3.24. The company report on January 31, 2023 that Lithium Americas Provides General Motors Transaction Details and Update on Construction Plan for Thacker Pass.
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Thacker Pass Construction Timeline.
A sum of 13955188 shares traded at recent session while its average daily volume was at 2.02M shares. Lithium Americas Corp. shares reached a high of $25.30 and dropped to a low of $23.14 until finishing in the latest session at $25.23.
The one-year LAC stock forecast points to a potential upside of 30.67. 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 $36.39 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.
Evercore ISI have made an estimate for Lithium Americas Corp. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on November 16, 2022. While these analysts kept the previous recommendation, B. Riley Securities dropped their target price from $44 to $41. The new note on the price target was released on October 27, 2022, representing the official price target for Lithium Americas Corp. stock. Previously, the target price had yet another raise to $38, while Piper Sandler analysts kept a Overweight rating on LAC stock.
The Average True Range (ATR) for Lithium Americas Corp. is set at 1.17 The Price to Book ratio for the last quarter was 4.40, with the Price to Cash per share for the same quarter was set at 2.96.
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 15.10. With this latest performance, LAC shares gained by 33.21% in over the last four-week period, additionally plugging by 0.84% over the last 6 months – not to mention a rise of 2.77% 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 70.76, with the RSI for the last a single of trading hit 79.28, and the three-weeks RSI is set at 63.65 for Lithium Americas Corp. [LAC]. The present Moving Average for the last 50 days of trading for this stock 22.06, while it was recorded at 22.82 for the last single week of trading, and 24.64 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 52.10 and a Current Ratio set at 52.10.
Lithium Americas Corp. [LAC] Insider Position Details
There are presently around $743 million, or 24.10% of LAC stock, in the hands of institutional investors. The top three institutional holders of LAC stocks are: FIFTHDELTA LTD with ownership of 4,031,810, which is approximately -36.46% of the company’s market cap and around 16.38% of the total institutional ownership; HIMENSION CAPITAL (SINGAPORE) PTE. LTD., holding 3,263,933 shares of the stock with an approximate value of $82.35 million in LAC stocks shares; and VANGUARD GROUP INC, currently with $80.75 million in LAC stock with ownership of nearly 2.994% of the company’s market capitalization.
Positions in Lithium Americas Corp. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 111 institutional holders increased their position in Lithium Americas Corp. [NYSE:LAC] by around 3,955,104 shares. Additionally, 105 investors decreased positions by around 5,672,399 shares, while 66 investors held positions by with 19,839,424 shares. The mentioned changes placed institutional holdings at 29,466,927 shares, according to the latest SEC report filing. LAC stock had 49 new institutional investments in for a total of 2,039,202 shares, while 37 institutional investors sold positions of 741,522 shares during the same period.