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The latest announcement is out from Lithium Americas Corp. ( (TSE:LAC) ).
Lithium Americas Corp. has finalized amendments to its $2.23 billion loan from the U.S. Department of Energy for the construction of processing facilities at Thacker Pass. The amendments include deferring $184 million in debt service obligations and providing the DOE with equity stakes in the company and its joint venture. Additionally, the company completed its at-the-market equity program, raising nearly $100 million. These developments are expected to bolster the company’s financial position and support the advancement of the Thacker Pass project, which is crucial for its strategic positioning in the lithium industry.
The most recent analyst rating on (TSE:LAC) stock is a Sell with a C$5.00 price target. To see the full list of analyst forecasts on Lithium Americas Corp. stock, see the TSE:LAC Stock Forecast page.
Spark’s Take on TSE:LAC Stock
According to Spark, TipRanks’ AI Analyst, TSE:LAC is a Neutral.
Lithium Americas Corp.’s overall score reflects its financial struggles with persistent losses and cash flow issues. However, recent corporate events provide a positive outlook with secured funding for key projects, which could improve future financial stability. Technical analysis shows mixed signals, and valuation concerns remain due to negative earnings and lack of dividends.
To see Spark’s full report on TSE:LAC stock, click here.
More about Lithium Americas Corp.
Lithium Americas Corp. is a company focused on developing the Thacker Pass project in Humboldt County, Nevada, which is recognized as the largest known lithium resource and reserve in the world. The company aims to advance Phase 1 of Thacker Pass toward production, targeting an annual output of 40,000 tonnes of battery-quality lithium carbonate. The project is a joint venture with General Motors, with Lithium Americas holding a 62% interest and managing the project.
Average Trading Volume: 1,792,951
Technical Sentiment Signal: Buy
Current Market Cap: C$2.85B
Learn more about LAC stock on TipRanks’ Stock Analysis page.