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Lithium Americas Corp. (LAC) Has Great Growth Outlook For 2023

Lithium Americas Corp. (NYSE:LAC) has a beta value of 1.50 and has seen 1.0 million shares traded in the recent trading session. The company, currently…

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This article was originally published by The Marketing Sentinal

Lithium Americas Corp. (NYSE:LAC) has a beta value of 1.50 and has seen 1.0 million shares traded in the recent trading session. The company, currently valued at $3.12B, closed the recent trade at $21.82 per share which meant it gained $1.07 on the day or 5.16% during that session. The LAC stock price is -85.11% off its 52-week high price of $40.39 and 19.43% above the 52-week low of $17.58. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.66 million shares traded. The 3-month trading volume is 2.69 million shares.

The consensus among analysts is that Lithium Americas Corp. (LAC) is a Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 15 have rated it as a Hold, with 14 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.22.

Lithium Americas Corp. (NYSE:LAC) trade information

Sporting 5.16% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 03/27/23 when the LAC stock price touched $21.82 or saw a rise of 1.18%. Year-to-date, Lithium Americas Corp. shares have moved 15.15%, while the 5-day performance has seen it change 5.00%. Over the past 30 days, the shares of Lithium Americas Corp. (NYSE:LAC) have changed -8.20%. Short interest in the company has seen 11.14 million shares shorted with days to cover at 4.82.

Wall Street analysts have a consensus price target for the stock at $36.97, which means that the shares’ value could jump 40.98% from the levels at last check today. The projected low price target is $29.13 while the price target rests at a high of $43.00. In that case, then, we find that the latest price level in today’s session is -97.07% off the targeted high while a plunge would see the stock gain -33.5% from the levels at last check today.

Lithium Americas Corp. (LAC) estimates and forecasts

Figures show that Lithium Americas Corp. shares have underperformed across the wider relevant industry. The company’s shares have lost -16.04% over the past 6 months, with this year growth rate of -108.00%, compared to -10.60% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -100.00% and 77.10% for the next quarter.

1 have an estimated revenue figure of $18 million for the next quarter concluding in Mar 2023.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 7.30% over the past 5 years.

LAC Dividends

Lithium Americas Corp. is expected to release its next earnings report between March 28 and April 01 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Lithium Americas Corp. (NYSE:LAC)’s Major holders

Insiders own 14.63% of the company shares, while shares held by institutions stand at 34.47% with a share float percentage of 40.38%. Investors are also buoyed by the number of investors in a company, with Lithium Americas Corp. having a total of 336 institutions that hold shares in the company. The top two institutional holders are Fifthdelta Ltd with over 6.72 million shares worth more than $146.06 million. As of Dec 30, 2022, Fifthdelta Ltd held 4.45% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 3.28 million shares as of Dec 30, 2022. The firm’s total holdings are worth over $71.27 million and represent 2.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust-VanEck Rare Earth/Strategic Metals ETF and Global X Fds-Global X Lithium & Battery Tech ETF. As of Dec 30, 2022, the former fund manager holds about 1.01% shares in the company for having 1.36 million shares of worth $29.55 million while later fund manager owns 1.27 million shares of worth $27.6 million as of Dec 30, 2022, which makes it owner of about 0.94% of company’s outstanding stock.

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