At the time of writing, Lithium Americas Corp (NewCo) [LAC] stock is trading at $2.78, up 2.58%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The LAC shares have lost -2.11% over the last week, with a monthly amount drifted -23.42%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Lithium Americas Corp (NewCo) [NYSE: LAC] stock has seen the most recent analyst activity on March 18, 2024, when Scotiabank downgraded its rating to a Sector Perform and also revised its price target to $7 from $15. Previously, JP Morgan started tracking the stock with Neutral rating on December 11, 2023, and set its price target to $7. On November 15, 2023, National Bank Financial initiated with a Outperform rating. Canaccord Genuity started tracking the stock assigning a Speculative Buy rating. Deutsche Bank downgraded its rating to a Hold and reduced its price target to $7 on October 18, 2023. B. Riley Securities started tracking with a Buy rating for this stock on October 16, 2023, and assigned it a price target of $14. In a note dated October 05, 2023, Stifel initiated an Buy rating and provided a target price of $15 on this stock.
For the past year, the stock price of Lithium Americas Corp (NewCo) fluctuated between $2.61 and $12.38. Currently, Wall Street analysts expect the stock to reach $29.54 within the next 12 months. Lithium Americas Corp (NewCo) [NYSE: LAC] shares were valued at $2.78 at the most recent close of the market. An investor can expect a potential return of 962.59% based on the average LAC price forecast.
Analyzing the LAC fundamentals
Gross Profit Margin for this corporation currently stands at 0.13% with Operating Profit Margin at -287.64%, Pretax Profit Margin comes in at 238.58%, and Net Profit Margin reading is 238.56%. To continue investigating profitability, this company’s Return on Assets is posted at 0.03, Equity is 0.02 and Total Capital is -0.04. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.01.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 2.67 points at the first support level, and at 2.56 for the second support level. However, for the 1st resistance point, the stock is sitting at 2.86, and for the 2nd resistance point, it is at 2.93.
Ratios To Look Out For
It is important to note that Lithium Americas Corp (NewCo) [NYSE:LAC] has a current ratio of 6.94. In addition, the Quick Ratio stands at 6.94 and the Cash Ratio stands at 6.67.
