In a report released today, Ben Isaacson from Scotiabank maintained a Buy rating on Lithium Americas Corp. (LAC – Research Report), with a price target of $15.00. The company’s shares closed yesterday at $5.73.
Isaacson covers the Basic Materials sector, focusing on stocks such as Sociedad Quimica Y Minera SA, West Fraser Timber Co, and Albemarle. According to TipRanks, Isaacson has an average return of 9.7% and a 54.39% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Lithium Americas Corp. with a $9.67 average price target, representing a 68.76% upside. In a report released on March 8, Canaccord Genuity also maintained a Buy rating on the stock with a C$11.50 price target.
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Based on Lithium Americas Corp.’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $200 thousand. In comparison, last year the company had a GAAP net loss of $16.99 million
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LAC in relation to earlier this year.
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Lithium Americas Corp. (LAC) Company Description:
Lithium Americas is a pure-play North American lithium company focused on advancing the 100%-owned Thacker Pass to production. Thacker Pass is located in northern Nevada and is the largest known Measured and Indicated (M&I) lithium resource in the U.S. The project commenced construction in early 2023 and is expected to employ over 1,000 workers during construction and create 500 permanent jobs during operations over its 40-year mine life. The company trades on both the Toronto Stock Exchange (TSX: LAC) and on the New York Stock Exchange (NYSE: LAC).
Read More on LAC:
- Lithium Americas’ Thacker Pass Project Update
- Lithium Americas Boosts U.S. Lithium Production
- Lithium Americas Receives Conditional Commitment for $2.26 Billion ATVM Loan from the U.S. DOE for Construction of Thacker Pass
- Lithium Americas Provides a Thacker Pass Construction Plan Update
- NACCO INDUSTRIES ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS
