Lithium Americas Corp. (NYSE:LAC) does about 2.07M shares in volume on a normal day but saw 2182268 shares change hands in Monday trading. The company now has a market cap of 2.81B USD. Its current market price is $21.67, marking an increase of 4.23% compared to the previous close of $20.79. The 52 week high reached by this stock is $40.39 whilst the lowest price level in 52 weeks is $17.58. The script in recent trading has seen the stock touch a high of $21.70 and a low of $21.085.
Lithium Americas Corp. (LAC) has a 20-day trading average at $19.69 and the current price is -46.35% off the 52-week high compared with 23.30% distance from its 52-week low. The 50-day simple moving average of the closing price is $22.58 and its 200-day simple moving average is $24.91. If we look at the stock’s price movements over the week, volatility stands at 4.12%, which increases to 4.93% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 55.92 to suggest the stock is neutral.
15 analysts observing the Lithium Americas Corp. (LAC) stock have set the 12-month price targets for the company’s shares at between $30.00 and $42.50. The consensus objective for the share price is $36.44, suggesting that the stock has a potential upside of 40.53% over the period. The median price target is 41.05% away from the current levels at $36.76.
FactSet Research has provided data showing that 15 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 14 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 16, 2022 when Evercore ISI initiated the stock to “Outperform” and issued a price target of $35. Piper Sandler resumed its price target at $38.
The current price level is 10.24%, -4.53%, and -13.22% away from its SMA20, SMA50, and SMA200 respectively, with the LAC price moving above the 50-day SMA on January 23. Lithium Americas Corp. (LAC) stock is up 4.58% over the week and 3.88% over the past month. Its price is 14.35% year-to-date and -18.99% over the past year.
The stock last released its quarterly earnings report for quarter ended 9/29/2022, with the company’s earnings per share (EPS) of -$0.3 below consensus estimates by -$0.14. The company’s next earnings report is expected on 05/11/2023, with forecasts estimating quarterly EPS at -$0.18 and -$0.58 for whole year. LAC’s earnings per share are forecast to shrink by -26.10% this year and 256.90% over next year. Expected sales for next quarter are $31 million, which analysts say will come at $15 million for the current fiscal year and next year at $312.72 million.
Its 12-month price target is $36.76. To reach the target analysts have set, the stock logically needs to grow 40.53 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $30.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $42.50.
Outstanding shares total 134.68M with insiders holding 16.42% of the shares and institutional holders owning 25.69% of the company’s common stock. The company has a return on equity of -13.00%. The forward price to earnings ratio is 23.20. The beta has a value of 1.45. Price to book ratio is 3.78.
VanEck Rare Earth/Strategic Metal isn’t the only investment manager who changed stakes and is followed by Global X Lithium & Battery Tech E, which added 920.0 shares to end up with 1,268,903 shares worth $24.05 million. Vanguard Total International Stoc cut their holdings by -1.48% in the company over the course of the most recent quarter. It now holds a 0.92% position in Lithium Americas Corp. thanks to 1.24 million shares amounting to $23.45 million.