LAC Stock Summary and Trading Ideas (Lithium Americas Corp. Common Shares | NYSE:LAC)

Lithium Americas is a pure-play lithium producer. The firm owns one resource, Thacker Pass, that is located in northwest Nevada. Thacker Pass recently began construction and is expected to begin production in the mid to late 2020s. Thacker Pass is one of the largest known lithium resources in the world. The project would be the first clay-based asset to enter production, and we estimate it will be in bottom half of the global cost curve. Management plans to develop Thacker Pass into a fully integrated lithium production site, with downstream refining capabilities on site, and will sell into the lithium chemical market.

Lithium Americas Corp. Common Shares trades on the NYSE stock market under the symbol LAC.

As of May 6, 2024, LAC stock price declined to $4.44 with 5,119,434 million shares trading.

LAC has a beta of 2.23, meaning it tends to be more sensitive to market movements. LAC has a correlation of 0.13 to the broad based SPY ETF.

LAC has a market cap of $964.21 million. This is considered a Small Cap stock.

Last quarter Lithium Americas Corp. Common Shares reported $0 in Revenue and $.04 earnings per share. This fell short of revenue expectation by $-59 million and missed earnings estimates by -$.13.

In the last 3 years, LAC stock traded as high as $41.56 and as low as $3.81.

The top ETF exchange traded funds that LAC belongs to (by Net Assets): REMX, LIT, DRIV, PBW, PICK.

LAC has underperformed the market in the last year with a price return of -44.8% while the SPY ETF gained +28.3%. However, in the short term, LAC had mixed performance relative to the market. It has outperformed in the last 3 months, returning +5.5% vs +4.8% return in SPY. But in the last 2 weeks, LAC shares have been beat by the market, returning -6.1% compared to an SPY return of +4.3%.

LAC support price is $4.29 and resistance is $4.69 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that LAC stock will trade within this expected range on the day.