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Lithium Americas Corp. ( (TSE:LAC) ) has issued an update.
Lithium Americas Corp. has reached a non-binding agreement with General Motors and the U.S. Department of Energy to advance the first draw of $435 million from a $2.26 billion DOE loan for the Thacker Pass lithium project. This agreement includes deferred debt service and equity stakes for the DOE, as well as additional support from GM, which will help strengthen the U.S. lithium supply chain and support domestic manufacturing across various industries.
The most recent analyst rating on (TSE:LAC) stock is a Buy with a C$7.00 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 operating in the mining industry, primarily focusing on the production of lithium, a key component in batteries for electric vehicles and other technologies. The company is involved in the Thacker Pass lithium project, which is a significant initiative aimed at bolstering U.S. lithium production and reducing reliance on imports.
Average Trading Volume: 1,439,810
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$1.93B
See more insights into LAC stock on TipRanks’ Stock Analysis page.