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Lithium Americas Corp. (NYSE: LAC) Stock: Can It Surge Further?

In the last trading session, 2.62 million shares of the Lithium Americas Corp. (NYSE:LAC) were traded, and its beta was 1.67. Most recently the company’s…



This article was originally published by The Marketing Sentinal

In the last trading session, 2.62 million shares of the Lithium Americas Corp. (NYSE:LAC) were traded, and its beta was 1.67. Most recently the company’s share price was $25.71, and it changed around $0.69 or 2.76% from the last close, which brings the market valuation of the company to $4.15B. LAC currently trades at a discount to its 52-week high of $41.56, offering almost -61.65% off that amount. The share price’s 52-week low was $13.37, which indicates that the current value has risen by an impressive 48.0% since then. We note from Lithium Americas Corp.’s average daily trading volume that its 10-day average is 2.29 million shares, with the 3-month average coming to 3.00 million.

Lithium Americas Corp. stock received a consensus recommendation rating of a Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended LAC as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Lithium Americas Corp. is expected to report earnings per share of -$0.14 for the current quarter.

Lithium Americas Corp. (NYSE:LAC) trade information

Instantly LAC has showed a green trend with a performance of 2.76% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 25.95 on Tuesday, 08/02/22 increased the stock’s daily price by 0.92%. The company’s shares are currently down -11.71% year-to-date, but still up 13.31% over the last five days. On the other hand, Lithium Americas Corp. (NYSE:LAC) is 27.78% up in the 30-day period. We can see from the shorts that 10.48 million shares have been sold at a short interest cover period of 4.86 day(s).

The consensus price target as assigned by Wall Street analysts is $36.31, which translates to bulls needing to increase their stock price by 29.19% from its current value. Analyst projections state that LAC is forecast to be at a low of $23.41 and a high of $44.00. In order for the stock price to hit the forecast high, the stock would need to plunge -71.14% from its current level, while the stock would need to crash 8.95% from its current level to reach the projected low.

Lithium Americas Corp. (LAC) estimates and forecasts

Lithium Americas Corp. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -1.76 percent over the past six months and at a 78.00% annual growth rate that is well above the industry average of 5.70%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -16.70% in revenue this quarter, and will report a decrease of -42.90% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 7.30%.

LAC Dividends

Lithium Americas Corp.’s next quarterly earnings report is expected to be released around February 28 and March 04.

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

Upon looking at major shareholders, it appears that insiders hold 16.82% of Lithium Americas Corp. shares, and 25.53% of them are in the hands of institutional investors. The stock currently has a share float of 30.69%. Lithium Americas Corp. stock is held by 362 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2022, it held 2.26% of the shares, which is about 3.05 million shares worth $117.28 million.

Fifthdelta Ltd, with 1.87% or 2.51 million shares worth $96.8 million as of Mar 30, 2022, holds the second largest percentage of outstanding shares.

Global X Fds-Global X Lithium & Battery Tech ETF and VanEck ETF Trust-VanEck Rare Earth/Strategic Metals ETF were the top two Mutual Funds as of Jun 29, 2022. The former held 1.87 million shares worth $37.55 million, making up 1.39% of all outstanding shares. On the other hand, VanEck ETF Trust-VanEck Rare Earth/Strategic Metals ETF held roughly 1.6 million shares worth around $32.17 million, which represents about 1.19% of the total shares outstanding.

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