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Lithium Americas Corp. ( (TSE:LAC) ) has shared an update.
Lithium Americas Corp. has received a $435 million drawdown from a $2.23 billion loan provided by the U.S. Department of Energy to finance the construction of processing facilities at Thacker Pass, Nevada. This funding marks a significant step in establishing a U.S.-domestic lithium supply chain, with construction underway and a growing workforce. The loan structure allows for flexible monthly drawdowns and has a 23-year tenor, with repayments starting in 2029, positioning the company strategically 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 contains the world’s largest known measured lithium resource. The company holds a 62% interest in the project, with General Motors Holdings LLC owning the remaining 38%. Lithium Americas aims to advance Phase 1 of Thacker Pass to achieve a production capacity of 40,000 tonnes per year of battery-quality lithium carbonate. The company’s shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC.
Average Trading Volume: 2,124,977
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$2.36B
For an in-depth examination of LAC stock, go to TipRanks’ Overview page.